Mackenzie Financial Corp Buys New Stake in Royalty Pharma plc (NASDAQ:RPRX)

Mackenzie Financial Corp bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRXGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,144 shares of the biopharmaceutical company’s stock, valued at approximately $805,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of Royalty Pharma by 1,621.2% in the second quarter. Russell Investments Group Ltd. now owns 336,667 shares of the biopharmaceutical company’s stock worth $14,158,000 after acquiring an additional 317,107 shares during the period. TD Asset Management Inc. raised its position in shares of Royalty Pharma by 22.5% in the second quarter. TD Asset Management Inc. now owns 205,777 shares of the biopharmaceutical company’s stock worth $8,651,000 after acquiring an additional 37,742 shares during the period. Torray LLC raised its position in shares of Royalty Pharma by 5.3% in the second quarter. Torray LLC now owns 139,012 shares of the biopharmaceutical company’s stock worth $5,844,000 after acquiring an additional 6,942 shares during the period. Formidable Asset Management LLC raised its position in shares of Royalty Pharma by 81.5% in the first quarter. Formidable Asset Management LLC now owns 18,592 shares of the biopharmaceutical company’s stock worth $724,000 after acquiring an additional 8,350 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Royalty Pharma by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 284,235 shares of the biopharmaceutical company’s stock worth $11,074,000 after acquiring an additional 4,772 shares during the period. 54.94% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.0 %

Shares of NASDAQ RPRX opened at $42.93 on Thursday. Royalty Pharma plc has a 12-month low of $36.15 and a 12-month high of $44.75. The stock has a market cap of $26.07 billion, a PE ratio of 51.12, a P/E/G ratio of 1.05 and a beta of 0.34. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $41.73 and a 200 day moving average of $41.84.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be paid a $0.19 dividend. The ex-dividend date is Thursday, November 17th. This represents a $0.76 annualized dividend and a dividend yield of 1.77%. Royalty Pharma’s dividend payout ratio (DPR) is 90.48%.

Insider Activity

In other news, CFO Terrance P. Coyne sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $43.06, for a total value of $236,830.00. Following the completion of the sale, the chief financial officer now owns 964,500 shares of the company’s stock, valued at approximately $41,531,370. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP George W. Lloyd sold 23,631 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $43.11, for a total value of $1,018,732.41. Following the completion of the sale, the executive vice president now owns 144,469 shares of the company’s stock, valued at approximately $6,228,058.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Terrance P. Coyne sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $43.06, for a total transaction of $236,830.00. Following the completion of the sale, the chief financial officer now directly owns 964,500 shares of the company’s stock, valued at approximately $41,531,370. The disclosure for this sale can be found here. Insiders sold a total of 1,887,623 shares of company stock valued at $79,272,782 in the last 90 days. Company insiders own 24.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RPRX shares. StockNews.com assumed coverage on shares of Royalty Pharma in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley boosted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 9th. Citigroup boosted their target price on shares of Royalty Pharma from $50.00 to $60.00 in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Royalty Pharma from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Royalty Pharma Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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