Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.7% during the fourth quarter, HoldingsChannel reports. The fund owned 326,372 shares of the biopharmaceutical company’s stock after selling 16,036 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Royalty Pharma were worth $8,326,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brooklyn Investment Group lifted its position in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 876 shares during the last quarter. Allworth Financial LP increased its holdings in Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 877 shares during the last quarter. Riverview Trust Co lifted its stake in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,186 shares during the last quarter. Fifth Third Bancorp lifted its stake in Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 997 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 376 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RPRX. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $31.28 on Thursday. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. The company has a market cap of $18.03 billion, a PE ratio of 21.57, a P/E/G ratio of 2.31 and a beta of 0.47. The stock has a 50 day simple moving average of $32.49 and a 200-day simple moving average of $28.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities research analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.22 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.81%. Royalty Pharma’s dividend payout ratio (DPR) is presently 60.69%.

About Royalty Pharma

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.