Royalty Pharma PLC $RPRX Shares Sold by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board reduced its stake in Royalty Pharma by 18.8% in the first quarter, owning 653,998 shares after selling 151,617 shares.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, payable on September 10th, representing a 2.4% yield.
• Several analysts have upgraded their ratings on Royalty Pharma, with a consensus target price of $48.00 and an average rating of "Buy."

Canada Pension Plan Investment Board reduced its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 653,998 shares of the biopharmaceutical company's stock after selling 151,617 shares during the quarter. Canada Pension Plan Investment Board owned about 0.11% of Royalty Pharma worth $20,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RPRX. Applied Finance Capital Management LLC grew its stake in shares of Royalty Pharma by 3.0% in the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after buying an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock valued at $1,238,000 after buying an additional 349 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in shares of Royalty Pharma by 1.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after buying an additional 380 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 414 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 452 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup upped their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $48.00.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $0.83 during mid-day trading on Friday, hitting $36.07. 9,228,138 shares of the company's stock traded hands, compared to its average volume of 4,306,595. The firm has a 50 day moving average price of $36.34 and a 200 day moving average price of $34.16. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market cap of $21.03 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during 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, equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

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

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.