TD Asset Management Inc Acquires 43,695 Shares of Royalty Pharma PLC $RPRX

TD Asset Management Inc boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 237,897 shares of the biopharmaceutical company’s stock after purchasing an additional 43,695 shares during the quarter. TD Asset Management Inc’s holdings in Royalty Pharma were worth $9,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after purchasing an additional 160,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Royalty Pharma by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after buying an additional 13,489 shares in the last quarter. Focus Partners Wealth purchased a new position in Royalty Pharma during the first quarter valued at $264,000. Intech Investment Management LLC raised its stake in Royalty Pharma by 41.0% during the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 13,951 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Royalty Pharma by 21.4% in the second quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock worth $56,184,000 after acquiring an additional 274,960 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In related news, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director directly owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total transaction of $726,073.04. Following the completion of the transaction, the executive vice president directly owned 31,881 shares in the company, valued at $1,691,605.86. This represents a 30.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 199,185 shares of company stock valued at $10,082,926 over the last ninety days. 18.84% of the stock is owned by company insiders.

Royalty Pharma Stock Up 1.4%

Shares of NASDAQ:RPRX opened at $55.63 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a market cap of $32.03 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 1.51 and a beta of 0.43. Royalty Pharma PLC has a 12 month low of $33.40 and a 12 month high of $56.50. The company has a 50-day moving average price of $51.15 and a 200 day moving average price of $45.28.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, equities research analysts predict that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Analysts Set New Price Targets

RPRX has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. UBS Group increased their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Citigroup increased their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.71.

Royalty Pharma Company 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.