Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Royalty Pharma plc (NASDAQ:RPRX)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Royalty Pharma plc (NASDAQ:RPRX) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,018,626 shares of the biopharmaceutical company’s stock after selling 286,133 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.17% of Royalty Pharma worth $28,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of RPRX. Envestnet Asset Management Inc. boosted its position in Royalty Pharma by 34.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,524 shares of the biopharmaceutical company’s stock worth $332,000 after purchasing an additional 2,176 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Royalty Pharma by 9.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 366 shares in the last quarter. US Bancorp DE boosted its position in Royalty Pharma by 48.1% in the 1st quarter. US Bancorp DE now owns 11,105 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 3,608 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Royalty Pharma by 54.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Royalty Pharma by 644.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,759 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 4,985 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RPRX. JPMorgan Chase & Co. reduced their target price on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. Bank of America reduced their target price on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group reduced their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $46.75.

Royalty Pharma Stock Up 1.0 %

NASDAQ RPRX opened at $28.16 on Monday. The business has a fifty day moving average price of $29.77 and a 200 day moving average price of $28.53. Royalty Pharma plc has a one year low of $25.92 and a one year high of $36.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.90 and a current ratio of 7.90. The company has a market cap of $16.82 billion, a P/E ratio of 14.90 and a beta of 0.45.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The firm had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. Research analysts anticipate that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

Royalty Pharma 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.