Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lessened its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 3.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 595,000 shares of the biopharmaceutical company’s stock after selling 18,500 shares during the quarter. Royalty Pharma comprises 1.6% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 23rd biggest holding. Rhenman & Partners Asset Management AB owned about 0.10% of Royalty Pharma worth $15,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Royalty Pharma during the fourth quarter worth about $124,498,000. Swedbank AB increased its holdings in shares of Royalty Pharma by 10.3% in the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after purchasing an additional 936,900 shares during the period. Raymond James Financial Inc. purchased a new position in Royalty Pharma in the 4th quarter valued at $19,990,000. Finally, Point72 Asset Management L.P. acquired a new position in Royalty Pharma in the 3rd quarter valued at $14,898,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

RPRX has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $41.60.

Royalty Pharma Stock Down 2.1 %

Shares of NASDAQ RPRX opened at $31.11 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s 50-day moving average is $32.52 and its two-hundred day moving average is $28.96. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. The company has a market capitalization of $17.93 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 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.