Bank of Montreal Can Increases Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Bank of Montreal Can increased its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 186.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 445,937 shares of the biopharmaceutical company’s stock after purchasing an additional 290,019 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of Royalty Pharma worth $12,580,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RPRX. Versant Capital Management Inc increased its position in shares of Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares during the last quarter. Blue Trust Inc. increased its holdings in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. Gladius Capital Management LP bought a new stake in Royalty Pharma in the second quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its stake in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in Royalty Pharma by 274.7% in the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 4,683 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on RPRX shares. The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup decreased their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $26.66 on Monday. The stock’s 50-day simple moving average is $27.15 and its two-hundred day simple moving average is $27.32. Royalty Pharma plc has a twelve month low of $25.10 and a twelve month high of $31.66. The firm has a market capitalization of $15.71 billion, a P/E ratio of 13.81, a P/E/G ratio of 4.68 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is 43.52%.

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.