Amundi Sells 1,137,257 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Amundi cut its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,553,998 shares of the biopharmaceutical company's stock after selling 1,137,257 shares during the period. Amundi owned approximately 0.43% of Royalty Pharma worth $66,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB increased its position in Royalty Pharma by 10.3% in the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock valued at $310,308,000 after buying an additional 1,136,800 shares in the last quarter. State Street Corp increased its position in Royalty Pharma by 0.3% in the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock valued at $269,215,000 after buying an additional 29,451 shares in the last quarter. Geode Capital Management LLC increased its position in Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock valued at $205,562,000 after buying an additional 417,490 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Royalty Pharma by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock valued at $79,888,000 after buying an additional 130,025 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after buying an additional 936,900 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $41.60.

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Royalty Pharma Price Performance

RPRX stock opened at $32.46 on Wednesday. The company has a market capitalization of $18.71 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20. The business has a 50-day simple moving average of $31.16 and a two-hundred day simple moving average of $28.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is presently 60.69%.

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.

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