Ontario Teachers Pension Plan Board Sells 9,072 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Ontario Teachers Pension Plan Board trimmed its stake in Royalty Pharma plc (NASDAQ:RPRX) by 21.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,349 shares of the biopharmaceutical company’s stock after selling 9,072 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Royalty Pharma were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RPRX. Swedbank AB lifted its position in shares of Royalty Pharma by 30.6% in the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after purchasing an additional 2,533,570 shares during the period. Van ECK Associates Corp lifted its position in shares of Royalty Pharma by 171.1% in the 3rd quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Royalty Pharma by 5.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company’s stock worth $28,051,000 after purchasing an additional 45,839 shares during the period. Summit Global Investments purchased a new stake in shares of Royalty Pharma in the 3rd quarter worth approximately $735,000. Finally, Tidal Investments LLC lifted its position in shares of Royalty Pharma by 28.2% in the 1st quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company’s stock worth $2,740,000 after purchasing an additional 19,834 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Stock Up 0.8 %

NASDAQ:RPRX opened at $26.22 on Thursday. The firm has a market capitalization of $15.45 billion, a P/E ratio of 13.59, a PEG ratio of 4.59 and a beta of 0.47. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66. The company’s fifty day moving average price is $27.35 and its 200-day moving average price is $27.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.20%. Royalty Pharma’s payout ratio is currently 43.52%.

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.