Pictet Asset Management Holding SA Raises Stake in Royalty Pharma PLC $RPRX

Pictet Asset Management Holding SA grew its position in Royalty Pharma PLC (NASDAQ:RPRX) by 12.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,428 shares of the biopharmaceutical company’s stock after purchasing an additional 38,918 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Royalty Pharma were worth $16,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after buying an additional 160,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after acquiring an additional 13,489 shares during the period. Focus Partners Wealth bought a new stake in Royalty Pharma during the first quarter valued at about $264,000. Intech Investment Management LLC lifted its position in shares of Royalty Pharma by 41.0% in the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 13,951 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Royalty Pharma by 21.4% in the second quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock valued at $56,184,000 after acquiring an additional 274,960 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares in the company, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the completion of the sale, the executive vice president directly owned 31,881 shares in the company, valued at approximately $1,691,605.86. The trade was a 30.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 427,800 shares of company stock worth $23,333,723. 18.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on RPRX. Morgan Stanley upped their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, UBS Group increased their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Stock Up 3.6%

Shares of RPRX stock opened at $57.77 on Friday. The company’s fifty day simple moving average is $53.40 and its two-hundred day simple moving average is $47.16. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $57.80. The stock has a market cap of $33.27 billion, a P/E ratio of 39.30, a PEG ratio of 1.53 and a beta of 0.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Analysts predict that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 63.95%.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.