TD Waterhouse Canada Inc. Has $4.56 Million Holdings in Royalty Pharma PLC $RPRX

TD Waterhouse Canada Inc. lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 121.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 81,697 shares of the biopharmaceutical company’s stock after acquiring an additional 44,764 shares during the period. TD Waterhouse Canada Inc.’s holdings in Royalty Pharma were worth $4,564,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. LM Advisors LLC bought a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $26,000. Lloyd Advisory Services LLC. bought a new stake in Royalty Pharma during the fourth quarter worth approximately $30,000. Blue Trust Inc. grew its holdings in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 446 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 306 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America restated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. TD Cowen lifted their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 13th. The Goldman Sachs Group reissued a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $60.86.

Insider Activity at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $59.97, for a total value of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. This represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of Royalty Pharma stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 398,197 shares of company stock worth $22,513,280 in the last three months. 18.84% of the stock is owned by insiders.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $63.96 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a 50-day simple moving average of $58.97 and a 200 day simple moving average of $53.14. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $64.38. The stock has a market cap of $36.78 billion, a PE ratio of 44.11, a PEG ratio of 1.49 and a beta of 0.44.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, research analysts forecast that Royalty Pharma PLC will post 5.3 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 64.83%.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.