TD Asset Management Inc lowered its stake in shares of Royalty Pharma plc (NASDAQ:RPRX – Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,457 shares of the biopharmaceutical company’s stock after selling 7,856 shares during the period. TD Asset Management Inc’s holdings in Royalty Pharma were worth $5,978,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in Royalty Pharma by 210.8% in the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 546 shares during the last quarter. Sageworth Trust Co acquired a new stake in Royalty Pharma in the 1st quarter worth about $31,000. Altshuler Shaham Ltd acquired a new stake in Royalty Pharma in the 1st quarter worth about $44,000. CWM LLC boosted its stake in Royalty Pharma by 33.8% in the 1st quarter. CWM LLC now owns 2,080 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 526 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Royalty Pharma by 320.0% in the 1st quarter. Signaturefd LLC now owns 2,230 shares of the biopharmaceutical company’s stock worth $80,000 after buying an additional 1,699 shares during the last quarter. 49.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on RPRX. Morgan Stanley raised their price target on Royalty Pharma from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. StockNews.com initiated coverage on Royalty Pharma in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, TheStreet downgraded Royalty Pharma from a “c” rating to a “d+” rating in a report on Friday, November 10th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.
Royalty Pharma Stock Performance
Royalty Pharma stock opened at $26.93 on Tuesday. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 86.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 13.51 and a quick ratio of 13.51. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $44.47. The stock’s 50-day moving average is $27.30 and its 200-day moving average is $29.95.
Royalty Pharma Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.97%. Royalty Pharma’s payout ratio is currently 258.06%.
Royalty Pharma 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.
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