Pictet Asset Management Holding SA Sells 16,036 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Pictet Asset Management Holding SA trimmed its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,372 shares of the biopharmaceutical company's stock after selling 16,036 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Royalty Pharma worth $8,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RPRX. Franklin Resources Inc. grew its holdings in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after acquiring an additional 70,130 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Royalty Pharma by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock worth $79,888,000 after purchasing an additional 130,025 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Royalty Pharma during the 4th quarter valued at about $2,355,000. Jupiter Asset Management Ltd. bought a new position in Royalty Pharma during the 4th quarter valued at approximately $4,950,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock worth $13,926,000 after buying an additional 406,123 shares during the period. 54.35% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts recently commented on RPRX shares. TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. Citigroup restated a "buy" rating on shares of Royalty Pharma in a 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $41.60.

Royalty Pharma Stock Down 0.3 %

Shares of NASDAQ RPRX traded down $0.08 during mid-day trading on Monday, hitting $31.03. 5,739,607 shares of the stock traded hands, compared to its average volume of 3,183,916. The stock has a fifty day moving average price of $32.50 and a 200-day moving average price of $28.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Research analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio is 60.69%.

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.