Sumitomo Mitsui Trust Group Inc. Lowers Stake in Royalty Pharma PLC (NASDAQ:RPRX)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 864,307 shares of the biopharmaceutical company's stock after selling 88,416 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of Royalty Pharma worth $26,906,000 at the end of the most recent quarter.

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

Royalty Pharma Trading Up 0.4%

RPRX traded up $0.14 during trading hours on Thursday, reaching $36.33. The company's stock had a trading volume of 1,196,661 shares, compared to its average volume of 3,677,571. The stock has a market cap of $20.42 billion, a PE ratio of 19.64, a P/E/G ratio of 1.84 and a beta of 0.50. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $36.45. 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 business's 50-day moving average is $33.71 and its 200-day moving average is $31.77.

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

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.42%. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RPRX shares. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Morgan Stanley assumed coverage on Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $47.33.

Royalty Pharma 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.