Cibc World Markets Corp Sells 5,156 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Cibc World Markets Corp reduced its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 23.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,237 shares of the biopharmaceutical company’s stock after selling 5,156 shares during the quarter. Cibc World Markets Corp’s holdings in Royalty Pharma were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Keene & Associates Inc. raised its position in Royalty Pharma by 1.9% during the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 370 shares in the last quarter. Blue Trust Inc. raised its position in Royalty Pharma by 31.3% during the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 376 shares in the last quarter. Sanctuary Advisors LLC raised its position in Royalty Pharma by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock valued at $1,068,000 after purchasing an additional 388 shares in the last quarter. Arizona State Retirement System raised its position in Royalty Pharma by 0.5% during the 4th quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock valued at $2,822,000 after purchasing an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Royalty Pharma by 31.4% during the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 590 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 0.6 %

Shares of NASDAQ:RPRX opened at $33.70 on Monday. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. The business’s fifty day simple moving average is $32.25 and its 200-day simple moving average is $28.71. The company has a market capitalization of $19.43 billion, a PE ratio of 23.24, a P/E/G ratio of 2.31 and a beta of 0.47. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) 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, equities research analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.61%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s payout ratio is 60.69%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.60.

Royalty Pharma 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.