Gulf International Bank UK Ltd Sells 7,281 Shares of Royalty Pharma PLC $RPRX

Key Points

• Gulf International Bank UK Ltd reduced its stake in Royalty Pharma PLC by 24.5% during the first quarter, leaving it with holdings worth $699,000.
• Multiple institutional investors increased their positions in Royalty Pharma, with Wells Fargo and Invesco growing their holdings by 29.1% and 33.2%, respectively.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, resulting in an annual yield of 2.4% for shareholders.

Gulf International Bank UK Ltd decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 24.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,476 shares of the biopharmaceutical company's stock after selling 7,281 shares during the quarter. Gulf International Bank UK Ltd's holdings in Royalty Pharma were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Royalty Pharma during the first quarter worth approximately $27,749,000. Virtu Financial LLC increased its stake in Royalty Pharma by 41.0% during the 1st quarter. Virtu Financial LLC now owns 25,830 shares of the biopharmaceutical company's stock worth $804,000 after acquiring an additional 7,510 shares during the period. Invesco Ltd. increased its stake in Royalty Pharma by 34.1% during the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company's stock worth $39,984,000 after acquiring an additional 326,525 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Royalty Pharma in the first quarter worth $144,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Royalty Pharma in the first quarter worth $205,000. 54.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup raised their price target on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, Royalty Pharma currently has an average rating of "Buy" and a consensus price target of $48.00.

Royalty Pharma Price Performance

RPRX stock traded down $0.4950 during midday trading on Thursday, reaching $36.3850. 1,240,938 shares of the stock were exchanged, compared to its average volume of 4,333,544. The stock has a market capitalization of $21.22 billion, a PE ratio of 21.05, a P/E/G ratio of 2.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The company has a fifty day moving average price of $36.12 and a 200 day moving average price of $33.83. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results 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. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The company had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. As a group, analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

About Royalty Pharma

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.