TD Asset Management Inc Raises Holdings in Royalty Pharma PLC $RPRX

TD Asset Management Inc boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 23.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 103,066 shares of the biopharmaceutical company’s stock after acquiring an additional 19,855 shares during the period. TD Asset Management Inc’s holdings in Royalty Pharma were worth $3,713,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Royalty Pharma by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,847,934 shares of the biopharmaceutical company’s stock worth $88,656,000 after purchasing an additional 226,048 shares during the period. AQR Capital Management LLC increased its holdings in Royalty Pharma by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after purchasing an additional 704,414 shares during the period. Invesco Ltd. increased its holdings in Royalty Pharma by 34.1% during the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company’s stock worth $39,984,000 after purchasing an additional 326,525 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Royalty Pharma by 7.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,241,051 shares of the biopharmaceutical company’s stock worth $38,634,000 after purchasing an additional 86,873 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Down 1.0%

Shares of NASDAQ RPRX opened at $36.63 on Tuesday. The stock has a market cap of $21.36 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.04 and a beta of 0.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $38.00. The business has a 50-day moving average price of $36.06 and a 200 day moving average price of $34.88.

Royalty Pharma (NASDAQ:RPRX) last announced 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. The firm had revenue of $578.67 million during the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 50.87%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RPRX. The Goldman Sachs Group began coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective on the stock. Citigroup increased their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley dropped their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Weiss Ratings upgraded Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price 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.