CIBC Asset Management Inc Raises Holdings in Royalty Pharma plc (NASDAQ:RPRX)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 376 shares in the last quarter. Sanctuary Advisors LLC grew its position in Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock worth $1,068,000 after acquiring an additional 388 shares in the last quarter. Aurora Investment Counsel grew its position in Royalty Pharma by 1.0% in the third quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 512 shares in the last quarter. GAMMA Investing LLC grew its position in Royalty Pharma by 31.4% in the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 590 shares in the last quarter. Finally, M&T Bank Corp grew its position in Royalty Pharma by 4.3% in the third quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Up 0.3 %

Shares of NASDAQ:RPRX opened at $33.42 on Friday. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $33.69. The business has a 50 day simple moving average of $29.18 and a two-hundred day simple moving average of $27.94. The firm has a market capitalization of $19.26 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 57.93%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RPRX shares. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $41.60.

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.