DekaBank Deutsche Girozentrale Sells 20,216 Shares of Royalty Pharma plc (NASDAQ:RPRX)

DekaBank Deutsche Girozentrale lowered its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729,128 shares of the biopharmaceutical company’s stock after selling 20,216 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Royalty Pharma were worth $19,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Main Street Financial Solutions LLC bought a new stake in Royalty Pharma in the 2nd quarter worth approximately $1,199,000. Forsta AP Fonden raised its stake in shares of Royalty Pharma by 138.8% during the second quarter. Forsta AP Fonden now owns 235,900 shares of the biopharmaceutical company’s stock worth $6,221,000 after acquiring an additional 137,100 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Royalty Pharma by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 60,468 shares of the biopharmaceutical company’s stock worth $1,595,000 after acquiring an additional 6,955 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Royalty Pharma by 4.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 27,694 shares of the biopharmaceutical company’s stock valued at $730,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Royalty Pharma during the 2nd quarter valued at $3,257,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $27.72 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The firm has a market cap of $16.45 billion, a P/E ratio of 20.69, a P/E/G ratio of 4.06 and a beta of 0.46. The business’s 50 day moving average price is $27.80 and its 200-day moving average price is $28.04.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The business had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities research analysts anticipate that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s payout ratio is currently 62.69%.

Analysts Set New Price Targets

RPRX has been the subject of several recent research reports. StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Morgan Stanley increased their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group lifted their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, June 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.