TD Asset Management Inc Acquires 91,136 Shares of Royalty Pharma PLC $RPRX

TD Asset Management Inc raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 88.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,202 shares of the biopharmaceutical company’s stock after purchasing an additional 91,136 shares during the period. TD Asset Management Inc’s holdings in Royalty Pharma were worth $6,851,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. CWM LLC grew its position in Royalty Pharma by 1.5% during the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock worth $656,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC raised its stake in Royalty Pharma by 9.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 289 shares during the period. Merit Financial Group LLC grew its holdings in Royalty Pharma by 3.5% during the third quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock worth $323,000 after buying an additional 306 shares in the last quarter. Keybank National Association OH lifted its holdings in Royalty Pharma by 1.0% during the second quarter. Keybank National Association OH now owns 33,139 shares of the biopharmaceutical company’s stock worth $1,194,000 after acquiring an additional 321 shares during the period. Finally, Wedmont Private Capital boosted its stake in Royalty Pharma by 5.1% in the third quarter. Wedmont Private Capital now owns 6,793 shares of the biopharmaceutical company’s stock valued at $245,000 after acquiring an additional 331 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Citigroup raised their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price objective on shares of Royalty Pharma in a research note on Thursday, February 12th. The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $48.67.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $47.47 on Tuesday. The business’s 50 day moving average price is $41.96 and its 200 day moving average price is $38.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $47.50. The company has a market cap of $27.38 billion, a price-to-earnings ratio of 35.16 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. On average, research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be given a $0.235 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 20th. Royalty Pharma’s dividend payout ratio (DPR) is currently 69.63%.

Insiders Place Their Bets

In other Royalty Pharma news, EVP George W. Lloyd sold 110,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $39.77, for a total transaction of $4,374,700.00. Following the transaction, the executive vice president directly owned 110,000 shares in the company, valued at approximately $4,374,700. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Terrance P. Coyne sold 114,954 shares of Royalty Pharma stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the transaction, the chief financial officer directly owned 23,972 shares in the company, valued at approximately $1,026,960.48. This represents a 82.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 853,863 shares of company stock worth $34,236,880 over the last quarter. Company insiders own 18.90% of the company’s stock.

About Royalty Pharma

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.