Bank Pictet & Cie Europe AG Cuts Holdings in Royalty Pharma PLC $RPRX

Bank Pictet & Cie Europe AG reduced its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 37.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,000 shares of the biopharmaceutical company’s stock after selling 15,000 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Royalty Pharma were worth $901,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in RPRX. Victory Capital Management Inc. boosted its position in shares of Royalty Pharma by 270.4% during the 1st 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 in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Royalty Pharma by 2,543.7% during 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 acquiring an additional 1,040,234 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Royalty Pharma during the 1st quarter worth about $31,591,000. Jupiter Asset Management Ltd. boosted its position in shares of Royalty Pharma by 462.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock worth $33,950,000 after acquiring an additional 896,555 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Royalty Pharma during the 1st quarter worth about $27,749,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 0.4%

Royalty Pharma stock opened at $35.04 on Friday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The stock has a 50 day moving average of $36.31 and a two-hundred day moving average of $34.44. 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 capitalization of $20.43 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.18 and a beta of 0.58.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The company had revenue of $578.67 million during the quarter, compared to analysts’ expectations of $750.06 million. As a group, research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 50.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RPRX shares. Morgan Stanley upped their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Wall Street Zen cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Citigroup upped their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.