Simplify Asset Management Inc. Reduces Stake in Royalty Pharma plc (NASDAQ:RPRX)

Simplify Asset Management Inc. lessened its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 62.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,188 shares of the biopharmaceutical company’s stock after selling 92,267 shares during the quarter. Simplify Asset Management Inc.’s holdings in Royalty Pharma were worth $1,482,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB boosted its stake in shares of Royalty Pharma by 30.6% during the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after acquiring an additional 2,533,570 shares during the last quarter. Norges Bank bought a new position in Royalty Pharma in the 4th quarter worth $119,740,000. New South Capital Management Inc. lifted its position in Royalty Pharma by 60.7% during the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Homestead Advisers Corp grew its holdings in Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after purchasing an additional 547,000 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Royalty Pharma by 10.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock worth $56,396,000 after buying an additional 175,261 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $27.99 on Friday. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 4.17 and a beta of 0.46. The firm has a fifty day moving average price of $27.95 and a 200 day moving average price of $28.02. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The business had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, sell-side analysts expect that Royalty Pharma plc will post 4.04 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 3.00%. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. UBS Group lowered shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Monday, June 3rd. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.