Royalty Pharma PLC $RPRX Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its stake in Royalty Pharma PLC by 37.8% during the first quarter, now owning 1,022,940 shares worth approximately $31.8 million.
• Royalty Pharma recently declared a quarterly dividend of $0.22, representing an annualized yield of 2.4% and a payout ratio of 50.87%.
• Analysts have upgraded Royalty Pharma's rating to "buy" and set a consensus price target of $48.00, reflecting optimism for the company's growth prospects.

BNP Paribas Financial Markets cut its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 37.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022,940 shares of the biopharmaceutical company's stock after selling 621,864 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of Royalty Pharma worth $31,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RPRX. Louisbourg Investments Inc. acquired a new position in shares of Royalty Pharma in the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB lifted its position in Royalty Pharma by 76.4% in the first 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 last quarter. Summit Securities Group LLC purchased a new stake in Royalty Pharma in the first quarter valued at $36,000. Allworth Financial LP raised its holdings in shares of Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Royalty Pharma in the first quarter valued at about $77,000. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Down 2.2%

Shares of RPRX traded down $0.83 during mid-day trading on Friday, reaching $36.07. The company had a trading volume of 9,231,241 shares, compared to its average volume of 3,155,449. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The firm has a fifty day simple moving average of $36.34 and a 200-day simple moving average of $34.19. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The business 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%. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm 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 dividend of $0.22 per share. 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%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Finally, Morgan Stanley raised their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and a consensus target price of $48.00.

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.