Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 39,000 Shares of Royalty Pharma PLC $RPRX

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Royalty Pharma PLC by 30.8%, bringing its holdings to 87,550 shares valued at approximately $2.73 million.
• Royalty Pharma recently reported an EPS of $1.14 for the quarter, exceeding analyst expectations, despite revenues falling short at $578.67 million compared to estimates of $750.06 million.
• The company announced a quarterly dividend of $0.22, representing an annualized yield of 2.4%, with a dividend payout ratio of 50.87%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 30.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,550 shares of the biopharmaceutical company's stock after selling 39,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Royalty Pharma were worth $2,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPRX. Merit Financial Group LLC purchased a new stake in Royalty Pharma during the first quarter valued at about $252,000. M&T Bank Corp raised its position in Royalty Pharma by 23.4% during the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock valued at $902,000 after purchasing an additional 5,500 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in Royalty Pharma during the first quarter valued at about $275,000. Asset Management One Co. Ltd. raised its position in Royalty Pharma by 8.0% during the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock valued at $5,134,000 after purchasing an additional 12,148 shares in the last quarter. Finally, Amalgamated Bank raised its position in Royalty Pharma by 4.4% during the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock valued at $636,000 after purchasing an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Up 2.4%

Shares of NASDAQ RPRX traded up $0.88 during trading hours on Wednesday, hitting $36.88. The company's stock had a trading volume of 3,780,438 shares, compared to its average volume of 4,353,569. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 2.34 and a beta of 0.55. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The business has a 50-day simple moving average of $36.07 and a 200-day simple moving average of $33.81.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. On average, analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is 50.87%.

Analysts Set New Price Targets

RPRX has been the topic of a number of research reports. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Morgan Stanley raised their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup raised their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of "Buy" and a consensus price target of $48.00.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.