Ontario Teachers Pension Plan Board Takes Position in Royalty Pharma plc (NASDAQ:RPRX)

Ontario Teachers Pension Plan Board bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,279 shares of the biopharmaceutical company’s stock, valued at approximately $312,000.

A number of other hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of Royalty Pharma during the first quarter valued at about $46,000. Allworth Financial LP lifted its position in shares of Royalty Pharma by 76.7% during the 4th quarter. Allworth Financial LP now owns 1,684 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 731 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Royalty Pharma by 172.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 1,037 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Royalty Pharma by 79.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 802 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Royalty Pharma by 485.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 1,999 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

RPRX traded up $0.33 during trading hours on Monday, hitting $28.47. The stock had a trading volume of 1,011,766 shares, compared to its average volume of 2,688,289. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. The stock has a market cap of $17.01 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 3.70 and a beta of 0.46. Royalty Pharma plc has a 1 year low of $25.20 and a 1 year high of $31.66. The company’s fifty day simple moving average is $26.91 and its 200 day simple moving average is $28.38.

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

Royalty Pharma Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, June 3rd. Finally, Bank of America dropped their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.