Forsta AP Fonden Sells 169,100 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• Forsta AP Fonden has reduced its stake in Royalty Pharma PLC by 69.2%, selling 169,100 shares and now holding 75,100 shares worth approximately $2.3 million.
• Wall Street analysts have positively rated Royalty Pharma, with Morgan Stanley raising the target price from $51.00 to $54.00 and several analysts giving it a consensus target price of $49.00.
• Royalty Pharma has announced a quarterly dividend of $0.22 per share, reflecting an annualized yield of 2.4% and a payout ratio of 50.87%.

Forsta AP Fonden lessened its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 69.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,100 shares of the biopharmaceutical company's stock after selling 169,100 shares during the period. Forsta AP Fonden's holdings in Royalty Pharma were worth $2,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RPRX. Louisbourg Investments Inc. bought a new position in shares of Royalty Pharma in the 1st quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 414 shares during the period. Allworth Financial LP grew its position in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares during the period. Transce3nd LLC bought a new position in shares of Royalty Pharma in the 4th quarter valued at about $61,000. Finally, Friedenthal Financial bought a new position in shares of Royalty Pharma in the 1st quarter valued at about $77,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley lifted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup lifted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and a consensus target price of $49.00.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $36.19 on Tuesday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $35.75 and a two-hundred day simple moving average of $33.64. The stock has a market capitalization of $20.35 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's payout ratio is presently 50.87%.

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.

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