Rhenman & Partners Asset Management AB Decreases Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Rhenman & Partners Asset Management AB cut its stake in Royalty Pharma plc (NASDAQ:RPRX) by 9.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the biopharmaceutical company’s stock after selling 15,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Royalty Pharma were worth $4,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Royalty Pharma by 7.5% during the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock worth $1,241,289,000 after purchasing an additional 2,224,056 shares during the last quarter. BlackRock Inc. grew its position in Royalty Pharma by 2.2% in the first quarter. BlackRock Inc. now owns 19,848,842 shares of the biopharmaceutical company’s stock worth $715,154,000 after acquiring an additional 435,591 shares during the period. Baillie Gifford & Co. grew its position in Royalty Pharma by 10.5% in the first quarter. Baillie Gifford & Co. now owns 18,918,750 shares of the biopharmaceutical company’s stock worth $681,643,000 after acquiring an additional 1,799,468 shares during the period. JPMorgan Chase & Co. raised its position in Royalty Pharma by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,736,171 shares of the biopharmaceutical company’s stock valued at $268,550,000 after purchasing an additional 64,608 shares during the period. Finally, State Street Corp lifted its stake in shares of Royalty Pharma by 2.7% in the 1st quarter. State Street Corp now owns 8,340,805 shares of the biopharmaceutical company’s stock valued at $300,519,000 after purchasing an additional 220,923 shares during the last quarter. 49.03% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.3 %

NASDAQ RPRX traded up $0.09 on Tuesday, hitting $27.02. 534,999 shares of the stock were exchanged, compared to its average volume of 2,090,287. The company has a market cap of $16.14 billion, a PE ratio of 86.87, a PEG ratio of 1.59 and a beta of 0.42. The company has a 50-day moving average price of $27.30 and a 200-day moving average price of $29.95. The company has a quick ratio of 13.51, a current ratio of 13.51 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a fifty-two week low of $25.92 and a fifty-two week high of $44.47.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.96%. Royalty Pharma’s dividend payout ratio is currently 258.06%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RPRX shares. Morgan Stanley raised their price objective on Royalty Pharma from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. TheStreet downgraded shares of Royalty Pharma from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Finally, StockNews.com began coverage on shares of Royalty Pharma in a report on Thursday, October 5th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.