Royalty Pharma PLC (NASDAQ:RPRX) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 864,307 shares of the biopharmaceutical company's stock after selling 88,416 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.15% of Royalty Pharma worth $26,906,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Royalty Pharma by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 561,724 shares of the biopharmaceutical company's stock worth $17,509,000 after purchasing an additional 21,729 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Royalty Pharma by 51.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,718 shares of the biopharmaceutical company's stock worth $3,567,000 after buying an additional 38,650 shares in the last quarter. Park Place Capital Corp acquired a new stake in Royalty Pharma during the first quarter valued at $108,000. Board of the Pension Protection Fund acquired a new stake in Royalty Pharma during the first quarter valued at $971,000. Finally, PDS Planning Inc acquired a new position in shares of Royalty Pharma in the first quarter worth about $206,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX traded up $0.14 during midday trading on Friday, hitting $36.33. 1,196,661 shares of the company traded hands, compared to its average volume of 3,679,527. The business has a 50 day simple moving average of $33.88 and a two-hundred day simple moving average of $31.98. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $36.43. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.87 and a beta of 0.50. 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 (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. On average, equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.