Canada Pension Plan Investment Board Has $20.69 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Canada Pension Plan Investment Board lowered its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 784,565 shares of the biopharmaceutical company’s stock after selling 139,074 shares during the quarter. Canada Pension Plan Investment Board owned about 0.13% of Royalty Pharma worth $20,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its stake in Royalty Pharma by 175.1% during the first quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock worth $1,322,000 after purchasing an additional 27,701 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Royalty Pharma in the 4th quarter valued at about $2,100,000. New Century Financial Group LLC acquired a new position in Royalty Pharma during the 1st quarter valued at about $1,091,000. Patient Capital Management LLC acquired a new position in Royalty Pharma during the 4th quarter valued at about $35,247,000. Finally, S&CO Inc. boosted its stake in Royalty Pharma by 31.0% during the 4th quarter. S&CO Inc. now owns 332,110 shares of the biopharmaceutical company’s stock valued at $9,328,000 after purchasing an additional 78,500 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group cut shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Monday, June 3rd. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Royalty Pharma currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Stock Down 1.6 %

RPRX opened at $27.54 on Monday. The company has a fifty day moving average price of $28.00 and a 200-day moving average price of $27.98. The firm has a market capitalization of $16.45 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 4.17 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same period in the previous year, the business earned $0.85 EPS. Equities research analysts expect that Royalty Pharma plc will post 4.04 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.05%. Royalty Pharma’s dividend payout ratio (DPR) is currently 62.69%.

About Royalty Pharma

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.