China Universal Asset Management Co. Ltd. Sells 7,290 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

China Universal Asset Management Co. Ltd. trimmed its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,918 shares of the biopharmaceutical company's stock after selling 7,290 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Royalty Pharma were worth $2,706,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Louisbourg Investments Inc. purchased a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its position in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 414 shares in the last quarter. Rakuten Securities Inc. lifted its position in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 1,003 shares in the last quarter. Westpac Banking Corp acquired a new position in shares of Royalty Pharma during the 4th quarter worth $53,000. Finally, National Bank of Canada FI increased its stake in shares of Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 371 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Morgan Stanley initiated coverage on shares of Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 price objective for the company. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royalty Pharma currently has an average rating of "Buy" and an average target price of $47.33.

Royalty Pharma Trading Down 0.2%

Shares of RPRX traded down $0.08 on Tuesday, reaching $35.51. 8,149,648 shares of the company's stock were exchanged, compared to its average volume of 3,695,937. The stock has a market capitalization of $19.97 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.87 and a beta of 0.50. The business has a 50 day moving average price of $33.94 and a two-hundred day moving average price of $32.11. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $36.43.

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

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's payout ratio is 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.