Swiss National Bank Decreases Stock Position in Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• The Swiss National Bank decreased its stake in Royalty Pharma PLC by 1.0%, now owning approximately 1,065,100 shares valued at $33.16 million.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, representing a 2.4% dividend yield, with a payout ratio of 50.87%.
• Equities research analysts have upgraded Royalty Pharma's rating, with four analysts giving it a "buy" rating and a consensus price target of $49.00.

Swiss National Bank reduced its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,065,100 shares of the biopharmaceutical company's stock after selling 11,000 shares during the quarter. Swiss National Bank owned approximately 0.18% of Royalty Pharma worth $33,157,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RPRX. Adage Capital Partners GP L.L.C. lifted its stake in Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after acquiring an additional 5,069,127 shares during the period. Victory Capital Management Inc. lifted its stake in Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock worth $112,788,000 after acquiring an additional 2,644,923 shares during the period. BNP Paribas Financial Markets purchased a new stake in Royalty Pharma in the fourth quarter worth about $41,959,000. AQR Capital Management LLC lifted its position in shares of Royalty Pharma by 187.0% in the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock worth $48,563,000 after purchasing an additional 1,240,384 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Royalty Pharma by 2,543.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company's stock worth $33,656,000 after purchasing an additional 1,040,234 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 1.7%

Shares of RPRX stock traded up $0.60 during mid-day trading on Wednesday, hitting $36.46. 5,232,913 shares of the stock traded hands, compared to its average volume of 2,794,003. The stock has a market cap of $20.50 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.34 and a beta of 0.55. The stock's fifty day moving average is $35.86 and its two-hundred day moving average is $33.68. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $38.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The company had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Equities analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup upped their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley upped their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $49.00.

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.