Credit Suisse AG Reduces Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Posted by Defense World Staff on Jun 9th, 2023

Credit Suisse AG decreased its position in Royalty Pharma plc (NASDAQ:RPRX – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 410,507 shares of the biopharmaceutical company’s stock after selling 3,891 shares during the period. Credit Suisse AG owned about 0.07% of Royalty Pharma worth $16,223,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RPRX. Vanguard Group Inc. lifted its stake in Royalty Pharma by 7.5% in the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after purchasing an additional 2,224,056 shares during the last quarter. BlackRock Inc. lifted its stake in Royalty Pharma by 4.6% in the first quarter. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company’s stock valued at $681,145,000 after purchasing an additional 767,864 shares during the last quarter. State Street Corp raised its holdings in Royalty Pharma by 9.7% during the 1st quarter. State Street Corp now owns 7,762,572 shares of the biopharmaceutical company’s stock valued at $302,430,000 after acquiring an additional 685,242 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Royalty Pharma during the 1st quarter valued at $23,083,000. Finally, Ensign Peak Advisors Inc raised its holdings in Royalty Pharma by 590.9% during the 3rd quarter. Ensign Peak Advisors Inc now owns 677,916 shares of the biopharmaceutical company’s stock valued at $27,239,000 after acquiring an additional 579,802 shares during the period. Hedge funds and other institutional investors own 55.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RPRX. TheStreet cut shares of Royalty Pharma from a “c-” rating to a “d+” rating in a report on Tuesday, February 21st. UBS Group lowered their target price on shares of Royalty Pharma from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Tigress Financial boosted their target price on shares of Royalty Pharma from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Finally, Morgan Stanley boosted their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $54.00.

Royalty Pharma Trading Up 2.2 %

Royalty Pharma stock opened at $34.53 on Friday. The stock has a market cap of $20.96 billion, a P/E ratio of 62.78, a PEG ratio of 0.92 and a beta of 0.42. Royalty Pharma plc has a fifty-two week low of $32.02 and a fifty-two week high of $44.66. The firm’s fifty day moving average price is $34.70 and its 200-day moving average price is $37.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.36 and a current ratio of 2.36.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 19th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.32%. Royalty Pharma’s payout ratio is currently 145.45%.

Insider Transactions at Royalty Pharma

In other news, EVP George W. Lloyd sold 19,215 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $33.54, for a total value of $644,471.10. Following the transaction, the executive vice president now owns 109,099 shares of the company’s stock, valued at $3,659,180.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP George W. Lloyd sold 19,215 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $33.54, for a total value of $644,471.10. Following the transaction, the executive vice president now owns 109,099 shares of the company’s stock, valued at $3,659,180.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rory B. Riggs sold 9,926 shares of the stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $36.95, for a total value of $366,765.70. Following the completion of the transaction, the director now directly owns 1,586,786 shares in the company, valued at approximately $58,631,742.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,973,048 shares of company stock valued at $65,311,268. 24.86% of the stock is currently owned by company insiders.

Royalty Pharma Profile

(Get Rating)

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.