CIBC Asset Management Inc Purchases 1,028 Shares of Royalty Pharma plc (NASDAQ:RPRX)

CIBC Asset Management Inc grew its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,119 shares of the biopharmaceutical company’s stock after buying an additional 1,028 shares during the quarter. CIBC Asset Management Inc’s holdings in Royalty Pharma were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Swedbank AB raised its holdings in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after purchasing an additional 213,900 shares during the period. Blue Trust Inc. raised its holdings in Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 943 shares during the period. Lake Street Advisors Group LLC bought a new position in Royalty Pharma in the 3rd quarter worth $211,000. Forsta AP Fonden raised its holdings in Royalty Pharma by 2.8% in the 3rd quarter. Forsta AP Fonden now owns 242,400 shares of the biopharmaceutical company’s stock worth $6,857,000 after purchasing an additional 6,500 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Royalty Pharma by 2.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 746,287 shares of the biopharmaceutical company’s stock worth $20,836,000 after purchasing an additional 17,159 shares during the period. 54.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent research reports. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $41.60.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $33.42 on Friday. The stock has a market cap of $19.26 billion, a PE ratio of 23.05, a P/E/G ratio of 2.31 and a beta of 0.49. The business’s 50-day simple moving average is $29.18 and its two-hundred day simple moving average is $27.94. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $33.69.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be given a dividend of $0.22 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.63%. Royalty Pharma’s dividend payout ratio (DPR) is presently 57.93%.

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.