10,279 Shares in Royalty Pharma plc (NASDAQ:RPRX) Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,279 shares of the biopharmaceutical company’s stock, valued at approximately $312,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Inspire Investing LLC boosted its position in shares of 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 buying an additional 27,701 shares during the period. Torray Investment Partners LLC boosted its position in Royalty Pharma by 22.6% during the 4th quarter. Torray Investment Partners LLC now owns 505,740 shares of the biopharmaceutical company’s stock worth $14,206,000 after acquiring an additional 93,107 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Royalty Pharma during the 4th quarter worth approximately $2,100,000. New Century Financial Group LLC bought a new position in shares of Royalty Pharma during the 1st quarter worth approximately $1,091,000. Finally, Patient Capital Management LLC acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at approximately $35,247,000. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX traded up $0.33 during mid-day trading on Monday, reaching $28.47. The company’s stock had a trading volume of 1,011,766 shares, compared to its average volume of 2,688,289. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 0.62. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66. The business has a 50-day simple moving average of $26.91 and a two-hundred day simple moving average of $28.38. The stock has a market cap of $17.01 billion, a P/E ratio of 21.00, a PEG ratio of 3.70 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. The business had revenue of $568.00 million for the quarter, compared to analysts’ expectations of $671.45 million. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, equities research analysts anticipate that Royalty Pharma plc will post 4.01 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, August 16th. Royalty Pharma’s dividend payout ratio is presently 62.69%.

Analysts Set New Price Targets

Several brokerages recently commented on RPRX. Bank of America reduced their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. Morgan Stanley lifted their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Royalty Pharma has an average rating of “Moderate Buy” and an average target price of $41.80.

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.