Royalty Pharma PLC $RPRX Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its stake in Royalty Pharma PLC by 22.3%, selling 14,226 shares, leaving it with 49,438 shares valued at approximately $1.54 million.
• Analysts have recently increased their ratings on Royalty Pharma, with Wall Street Zen upgrading it from "hold" to "buy" and Morgan Stanley raising the price target from $51 to $54.
• Royalty Pharma has declared a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 2.4% and a dividend payout ratio of 50.87%.

Panagora Asset Management Inc. lowered its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,438 shares of the biopharmaceutical company's stock after selling 14,226 shares during the quarter. Panagora Asset Management Inc.'s holdings in Royalty Pharma were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RPRX. Applied Finance Capital Management LLC boosted its holdings in Royalty Pharma by 3.0% in the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after purchasing an additional 329 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after buying an additional 349 shares during the last quarter. Sherbrooke Park Advisers LLC grew its holdings in Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after acquiring an additional 380 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 414 shares during the period. Finally, Allworth Financial LP raised its position in Royalty Pharma by 41.6% during the first 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 in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Down 2.2%

Shares of Royalty Pharma stock traded down $0.83 during trading hours on Friday, hitting $36.07. The company's stock had a trading volume of 9,231,241 shares, compared to its average volume of 3,155,449. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.35 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The firm has a fifty day moving average of $36.34 and a 200-day moving average of $34.19.

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 (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. Research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

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

Wall Street Analysts Forecast Growth

RPRX has been the topic of a number of recent analyst reports. Citigroup increased 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. Morgan Stanley increased their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $48.00.

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.