Royalty Pharma PLC $RPRX Position Increased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its position in Royalty Pharma PLC (NASDAQ:RPRX) by 121.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,697 shares of the biopharmaceutical company’s stock after buying an additional 44,764 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Royalty Pharma were worth $4,564,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in RPRX. Morgan Stanley lifted its position in shares of Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after acquiring an additional 11,110,115 shares in the last quarter. Capital International Investors grew its position in Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares in the last quarter. State Street Corp grew its position in Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after purchasing an additional 376,888 shares in the last quarter. Geode Capital Management LLC grew its position in Royalty Pharma by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after purchasing an additional 102,430 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Royalty Pharma by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after purchasing an additional 449,498 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RPRX shares. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. TD Cowen upped their price target on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.86.

Insider Transactions at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 370,401 shares of the company’s stock, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The disclosure for this sale is available in the SEC filing. 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 valued at $22,513,280 over the last ninety days. Company insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $63.96 on Monday. The company’s fifty day simple moving average is $58.97 and its 200-day simple moving average is $53.14. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $64.38. The stock has a market cap of $36.78 billion, a P/E ratio of 44.11, a P/E/G ratio of 1.49 and a beta of 0.44.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 5.3 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

Royalty Pharma Profile

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.