TD Asset Management Inc Has $6.85 Million Position in Royalty Pharma PLC $RPRX

TD Asset Management Inc boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 88.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 194,202 shares of the biopharmaceutical company’s stock after purchasing an additional 91,136 shares during the period. TD Asset Management Inc’s holdings in Royalty Pharma were worth $6,851,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Compound Planning Inc. increased its position in shares of Royalty Pharma by 8.4% in the third quarter. Compound Planning Inc. now owns 8,722 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 674 shares during the last quarter. Raiffeisen Bank International AG boosted its position in Royalty Pharma by 116.6% during the 3rd quarter. Raiffeisen Bank International AG now owns 38,982 shares of the biopharmaceutical company’s stock valued at $1,374,000 after acquiring an additional 20,982 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Royalty Pharma during the third quarter valued at $243,000. Maridea Wealth Management LLC bought a new position in shares of Royalty Pharma during the third quarter valued at approximately $604,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Royalty Pharma in the 3rd quarter worth $3,406,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RPRX. UBS Group raised shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Friday, January 30th. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Citigroup upped their price target on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Leerink Partners set a $45.00 target price on shares of Royalty Pharma in a report on Thursday, December 11th. Finally, Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $48.67.

Insider Activity

In related news, CFO Terrance P. Coyne sold 114,954 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $42.84, for a total value of $4,924,629.36. Following the completion of the sale, the chief financial officer owned 23,972 shares in the company, valued at $1,026,960.48. This trade represents a 82.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marshall Urist sold 23,334 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $39.15, for a total value of $913,526.10. Following the completion of the transaction, the executive vice president owned 160,000 shares of the company’s stock, valued at $6,264,000. The trade was a 12.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 853,863 shares of company stock worth $34,236,880. Corporate insiders own 18.90% of the company’s stock.

Royalty Pharma Stock Up 2.7%

Shares of RPRX opened at $47.47 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $27.38 billion, a PE ratio of 35.16 and a beta of 0.40. The stock has a fifty day simple moving average of $41.96 and a two-hundred day simple moving average of $38.95. Royalty Pharma PLC has a 52-week low of $29.66 and a 52-week high of $47.50.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The company had revenue of $621.99 million for the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. As a group, equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be given a dividend of $0.235 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. Royalty Pharma’s dividend payout ratio is 69.63%.

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.