Northwest & Ethical Investments L.P. Takes $1.67 Million Position in Royalty Pharma PLC $RPRX

Northwest & Ethical Investments L.P. bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,398 shares of the biopharmaceutical company’s stock, valued at approximately $1,672,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Royalty Pharma by 603.9% during the second quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock worth $23,701,000 after purchasing an additional 562,799 shares during the period. Cookson Peirce & Co. Inc. grew its position in Royalty Pharma by 55.1% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company’s stock valued at $1,234,000 after purchasing an additional 12,171 shares during the period. Koss Olinger Consulting LLC increased its stake in Royalty Pharma by 201.5% during the 1st quarter. Koss Olinger Consulting LLC now owns 31,756 shares of the biopharmaceutical company’s stock valued at $989,000 after purchasing an additional 21,225 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in Royalty Pharma by 126.5% during the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock worth $89,020,000 after buying an additional 1,380,115 shares during the last quarter. Finally, Monetta Financial Services Inc. acquired a new position in Royalty Pharma during the second quarter worth $1,081,000. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of analyst reports. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. The Goldman Sachs Group initiated coverage on Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target for the company. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Morgan Stanley dropped their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, TD Cowen cut Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Royalty Pharma Trading Up 0.8%

Shares of RPRX stock opened at $39.84 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market capitalization of $23.00 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.10 and a beta of 0.56. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The company has a 50-day simple moving average of $37.38 and a two-hundred day simple moving average of $36.08.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. Research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 annualized dividend and a yield of 2.2%. Royalty Pharma’s payout ratio is currently 66.67%.

Insiders Place Their Bets

In other news, CFO Terrance P. Coyne sold 69,594 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the completion of the sale, the chief financial officer directly owned 54,760 shares of the company’s stock, valued at $2,152,068. This trade represents a 55.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George W. Lloyd sold 132,426 shares of Royalty Pharma stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total value of $5,077,212.84. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 344,196 shares of company stock valued at $13,344,707 in the last 90 days. Corporate insiders own 18.90% of the company’s stock.

About Royalty Pharma

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.