Royalty Pharma PLC $RPRX Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Royalty Pharma PLC by 2.6%, purchasing an additional 18,616 shares, bringing its total ownership to approximately 731,401 shares valued at $22.77 million.
• The company recently reported $1.14 earnings per share for the quarter, exceeding analyst expectations of $1.10, while its revenue of $578.67 million fell short of the consensus estimate of $750.06 million.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, with a dividend yield of 2.4%, which is part of a broader commitment reflected in a 50.87% payout ratio.

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 731,401 shares of the biopharmaceutical company's stock after acquiring an additional 18,616 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.13% of Royalty Pharma worth $22,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Royalty Pharma by 52.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,680,535 shares of the biopharmaceutical company's stock valued at $42,866,000 after buying an additional 580,787 shares during the period. MML Investors Services LLC bought a new stake in shares of Royalty Pharma in the fourth quarter valued at $1,194,000. Voya Investment Management LLC raised its stake in shares of Royalty Pharma by 13.9% during the 4th quarter. Voya Investment Management LLC now owns 57,955 shares of the biopharmaceutical company's stock valued at $1,478,000 after purchasing an additional 7,076 shares during the period. Northern Trust Corp boosted its holdings in shares of Royalty Pharma by 12.8% in the 4th quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock worth $84,959,000 after purchasing an additional 376,619 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Royalty Pharma by 187.0% during the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock valued at $48,563,000 after acquiring an additional 1,240,384 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Up 1.0%

Shares of RPRX traded up $0.36 during midday trading on Friday, hitting $35.98. 2,993,986 shares of the company's stock traded hands, compared to its average volume of 3,145,088. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00. The firm's fifty day moving average is $36.28 and its 200-day moving average is $34.05. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The firm had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. As a group, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio is presently 50.87%.

Analysts Set New Price Targets

RPRX has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Citigroup boosted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $48.00.

About Royalty Pharma

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.