Ontario Teachers Pension Plan Board Decreases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Ontario Teachers Pension Plan Board reduced its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 21.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Swedbank AB lifted its stake in shares of Royalty Pharma by 2.0% in the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after buying an additional 213,900 shares in the last quarter. New South Capital Management Inc. lifted its stake in shares of Royalty Pharma by 5.0% in the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock worth $69,774,000 after buying an additional 117,394 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Royalty Pharma by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after buying an additional 86,248 shares in the last quarter. Regal Partners Ltd lifted its stake in shares of Royalty Pharma by 22.7% in the second quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock worth $31,053,000 after buying an additional 217,774 shares in the last quarter. Finally, Swiss National Bank increased its position in Royalty Pharma by 1.5% during the third quarter. Swiss National Bank now owns 1,140,600 shares of the biopharmaceutical company’s stock worth $32,268,000 after purchasing an additional 17,000 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 0.8 %

Shares of RPRX stock opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $15.45 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 4.59 and a beta of 0.47. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $27.41. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66.

Royalty Pharma Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on RPRX. The Goldman Sachs Group raised their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup cut their price objective 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 issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

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.