Bank of Montreal Can Sells 301,464 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Bank of Montreal Can decreased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 67.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,473 shares of the biopharmaceutical company’s stock after selling 301,464 shares during the quarter. Bank of Montreal Can’s holdings in Royalty Pharma were worth $3,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RPRX. Swedbank AB raised its stake in shares of Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the period. Geode Capital Management LLC grew its holdings in Royalty Pharma by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company’s stock valued at $186,846,000 after buying an additional 46,765 shares in the last quarter. Norges Bank bought a new stake in shares of Royalty Pharma during the fourth quarter valued at about $124,498,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Royalty Pharma by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock worth $79,888,000 after buying an additional 130,025 shares in the last quarter. Finally, New South Capital Management Inc. boosted its position in shares of Royalty Pharma by 19.9% in the fourth quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company’s stock valued at $75,436,000 after acquiring an additional 490,754 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RPRX. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $42.50.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $32.45 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market cap of $18.71 billion, a PE ratio of 22.38, a PEG ratio of 2.31 and a beta of 0.50. The company’s fifty day moving average is $32.54 and its 200 day moving average is $29.20. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results 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%. Research analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current year.

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.