Royalty Pharma PLC $RPRX Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 13.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,561 shares of the biopharmaceutical company’s stock after purchasing an additional 40,095 shares during the period. Pictet Asset Management Holding SA’s holdings in Royalty Pharma were worth $20,041,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Royalty Pharma by 29.0% during the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after buying an additional 786,921 shares during the period. Amundi grew its stake in shares of Royalty Pharma by 15.3% in the first quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock valued at $148,168,000 after buying an additional 409,394 shares in the last quarter. Dorsey Asset Management LLC raised its holdings in shares of Royalty Pharma by 0.8% in the 1st quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after buying an additional 17,101 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Royalty Pharma by 2,562.2% in the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock valued at $74,000,000 after buying an additional 1,486,020 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Royalty Pharma by 5.8% in the 1st quarter. Swiss National Bank now owns 1,191,100 shares of the biopharmaceutical company’s stock valued at $57,137,000 after buying an additional 65,700 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 0.8%

Shares of NASDAQ:RPRX opened at $70.01 on Thursday. The firm’s 50 day moving average price is $61.29 and its 200 day moving average price is $54.25. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 58.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37. Royalty Pharma PLC has a fifty-two week low of $37.31 and a fifty-two week high of $70.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.77.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.2350 per share. This represents a $0.94 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is 78.33%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RPRX shares. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. TD Cowen lifted their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $63.29.

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the sale, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction on Monday, October 5th. The stock was sold at an average price of $57.10, for a total transaction of $235,594.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 208,252 shares of company stock valued at $12,324,407 in the last quarter. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding. The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.