Royalty Pharma PLC $RPRX Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Royalty Pharma PLC by 23.9%, owning 103,066 shares worth approximately $3.71 million after acquiring additional shares.
• Royalty Pharma's quarterly earnings beat analysts' expectations, with an earnings per share (EPS) of $1.14, exceeding the consensus estimate of $1.10.
• The company announced a quarterly dividend of $0.22 per share, resulting in an annualized dividend of $0.88 and a yield of 2.4%.

TD Asset Management Inc boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 23.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,066 shares of the biopharmaceutical company's stock after buying an additional 19,855 shares during the period. TD Asset Management Inc's holdings in Royalty Pharma were worth $3,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Augustine Asset Management Inc. boosted its stake in Royalty Pharma by 4.4% during the second quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company's stock worth $242,000 after buying an additional 283 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after buying an additional 329 shares during the last quarter. Fifth Third Bancorp boosted its stake in Royalty Pharma by 19.2% during the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company's stock worth $77,000 after buying an additional 344 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Royalty Pharma by 42.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 402 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Royalty Pharma by 17.1% during the second quarter. GAMMA Investing LLC now owns 3,017 shares of the biopharmaceutical company's stock worth $109,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Price Performance

RPRX stock opened at $36.63 on Tuesday. 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 company has a market capitalization of $21.36 billion, a PE ratio of 21.17, a P/E/G ratio of 2.04 and a beta of 0.60. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00. The business's fifty day moving average price is $36.06 and its 200 day moving average price is $34.88.

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

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 14th. Royalty Pharma's payout ratio is currently 50.87%.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a "buy" rating and a $42.00 price target on the stock. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Citigroup upped their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Weiss Ratings raised Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and a consensus target price of $46.00.

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.

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