Handelsbanken Fonder AB Cuts Position in Royalty Pharma plc (NASDAQ:RPRX)

Handelsbanken Fonder AB lessened its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 4.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 891,918 shares of the biopharmaceutical company’s stock after selling 39,718 shares during the quarter. Handelsbanken Fonder AB’s holdings in Royalty Pharma were worth $25,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC boosted its stake in shares of Royalty Pharma by 42.1% in the 4th quarter. CWM LLC now owns 6,796 shares of the biopharmaceutical company’s stock worth $191,000 after buying an additional 2,014 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Royalty Pharma by 85.2% in the 4th quarter. Signaturefd LLC now owns 10,886 shares of the biopharmaceutical company’s stock worth $306,000 after purchasing an additional 5,007 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Royalty Pharma by 485.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 1,999 shares during the period. Institute for Wealth Management LLC. bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $237,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Royalty Pharma by 12.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 36,643 shares of the biopharmaceutical company’s stock worth $1,029,000 after purchasing an additional 4,007 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $27.82 on Tuesday. The company has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $28.54. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. Royalty Pharma plc has a 12-month low of $25.92 and a 12-month high of $36.19. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 14.72 and a beta of 0.45.

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

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.02%. Royalty Pharma’s payout ratio is 44.44%.

Analyst Ratings Changes

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

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.