TD Asset Management Inc Has $9.19 Million Holdings in Royalty Pharma PLC $RPRX

Key Points

• TD Asset Management Inc increased its stake in Royalty Pharma by 22.5% in the fourth quarter, buying 43,695 additional shares and lifting its total holdings to 237,897 shares worth about $9.19 million.
• Institutional ownership remains significant, with several other funds also adjusting positions; overall, 54.35% of Royalty Pharma’s stock is owned by institutional investors.
• Royalty Pharma’s recent earnings beat estimates, and analysts remain constructive on the stock: the company posted $1.30 EPS versus $1.22 expected, while the consensus rating is Buy with a target price of $53.71.

TD Asset Management Inc raised its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 22.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 237,897 shares of the biopharmaceutical company's stock after purchasing an additional 43,695 shares during the period. TD Asset Management Inc's holdings in Royalty Pharma were worth $9,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Phillips Wealth Planners LLC lifted its holdings in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company's stock valued at $521,000 after purchasing an additional 242 shares in the last quarter. Strs Ohio grew its holdings in Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock worth $360,000 after buying an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company's stock valued at $1,673,000 after buying an additional 255 shares during the last quarter. Cary Street Partners Financial LLC lifted its stake in Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company's stock valued at $943,000 after acquiring an additional 260 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gregory Norden sold 3,045 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares in the company, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the completion of the sale, the executive vice president directly owned 31,881 shares of the company's stock, valued at $1,691,605.86. The trade was a 30.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 199,185 shares of company stock valued at $10,082,926. Insiders own 18.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. The Goldman Sachs Group restated a "buy" rating on shares of Royalty Pharma in a report on Thursday, February 12th. Citigroup upped their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $53.71.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $55.63 on Wednesday. The company's 50 day moving average is $51.15 and its 200-day moving average is $45.28. The firm has a market cap of $32.03 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43. Royalty Pharma PLC has a 12-month low of $33.40 and a 12-month high of $56.50. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Sell-side analysts predict that Royalty Pharma PLC will post 5.05 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, June 10th. Investors of record on Friday, May 15th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma's payout ratio is presently 63.95%.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company's transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.

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