DekaBank Deutsche Girozentrale Lowers Stock Holdings in Royalty Pharma PLC $RPRX

DekaBank Deutsche Girozentrale reduced its position in Royalty Pharma PLC (NASDAQ:RPRX) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 746,287 shares of the biopharmaceutical company’s stock after selling 3,057 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Royalty Pharma were worth $26,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RPRX. M&T Bank Corp grew its stake in shares of Royalty Pharma by 23.4% during the 1st quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 5,500 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Royalty Pharma by 8.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock valued at $5,134,000 after buying an additional 12,148 shares during the period. Amalgamated Bank grew its stake in shares of Royalty Pharma by 4.4% during the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock valued at $636,000 after buying an additional 866 shares during the period. Nordea Investment Management AB grew its stake in shares of Royalty Pharma by 603.9% during the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after buying an additional 562,799 shares during the period. Finally, KBC Group NV grew its stake in shares of Royalty Pharma by 43.0% during the 1st quarter. KBC Group NV now owns 59,405 shares of the biopharmaceutical company’s stock valued at $1,849,000 after buying an additional 17,851 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $36.84 on Thursday. The firm has a market cap of $21.48 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.60. The firm’s 50-day simple moving average is $36.10 and its 200-day simple moving average is $34.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $0.22 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma’s dividend payout ratio is 50.87%.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent research reports. Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Weiss Ratings upgraded shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $46.00.

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.