Mediolanum International Funds Ltd Lowers Stake in Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Royalty Pharma PLC by 6.3%, selling 8,894 shares, leaving them with 131,448 shares valued at approximately $4.12 million.
• Royalty Pharma recently announced a quarterly dividend of $0.22, which represents an annualized dividend yield of 2.40%.
• Research analysts have set new price targets for Royalty Pharma, with Citigroup raising its target from $40 to $42, while Morgan Stanley increased theirs from $51 to $54, reflecting varying assessments on the stock's value.

Mediolanum International Funds Ltd cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,448 shares of the biopharmaceutical company's stock after selling 8,894 shares during the quarter. Mediolanum International Funds Ltd's holdings in Royalty Pharma were worth $4,124,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RPRX. Merit Financial Group LLC purchased a new position in Royalty Pharma during the first quarter valued at approximately $252,000. M&T Bank Corp increased its holdings 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 buying an additional 5,500 shares during the period. Yousif Capital Management LLC purchased a new position in Royalty Pharma during the first quarter valued at approximately $275,000. Asset Management One Co. Ltd. grew its holdings in Royalty Pharma by 8.0% in the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock worth $5,134,000 after purchasing an additional 12,148 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Royalty Pharma by 4.4% in the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after purchasing an additional 866 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RPRX. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Morgan Stanley lifted their price target 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 price target 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $49.00.

Royalty Pharma Price Performance

NASDAQ RPRX traded up $0.39 during trading hours on Monday, hitting $37.06. 2,645,701 shares of the company's stock traded hands, compared to its average volume of 2,840,526. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $37.21. The company has a market capitalization of $20.84 billion, a PE ratio of 20.03, a PEG ratio of 2.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The firm's 50-day moving average is $34.86 and its 200-day moving average is $33.18.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The business had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. Equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 2.37%. Royalty Pharma's dividend payout ratio is currently 47.57%.

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.