TD Asset Management Inc Decreases Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

TD Asset Management Inc reduced its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 36.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,172 shares of the biopharmaceutical company’s stock after selling 24,880 shares during the period. TD Asset Management Inc’s holdings in Royalty Pharma were worth $1,165,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RPRX. Regal Partners Ltd lifted its holdings in Royalty Pharma by 22.7% in the 2nd quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock worth $31,053,000 after buying an additional 217,774 shares during the period. CIBC Asset Management Inc boosted its holdings in Royalty Pharma by 107.6% in the second quarter. CIBC Asset Management Inc now owns 24,186 shares of the biopharmaceutical company’s stock valued at $638,000 after acquiring an additional 12,537 shares in the last quarter. nVerses Capital LLC purchased a new position in Royalty Pharma during the 2nd quarter valued at $301,000. Van ECK Associates Corp raised its holdings in Royalty Pharma by 5.6% in the 2nd quarter. Van ECK Associates Corp now owns 37,443 shares of the biopharmaceutical company’s stock worth $988,000 after purchasing an additional 1,980 shares in the last quarter. Finally, Searle & CO. purchased a new stake in shares of Royalty Pharma in the 2nd quarter worth about $1,516,000. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPRX. The Goldman Sachs Group boosted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Morgan Stanley increased their price objective on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. 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. Based on data from MarketBeat.com, Royalty Pharma presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Stock Up 0.6 %

Shares of NASDAQ:RPRX opened at $27.72 on Friday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $28.06. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 4.10 and a beta of 0.46.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. Royalty Pharma’s dividend payout ratio is presently 62.69%.

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.