CIBC Asset Management Inc Purchases 905 Shares of Royalty Pharma plc (NASDAQ:RPRX)

CIBC Asset Management Inc raised its position in Royalty Pharma plc (NASDAQ:RPRX) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,091 shares of the biopharmaceutical company’s stock after purchasing an additional 905 shares during the period. CIBC Asset Management Inc’s holdings in Royalty Pharma were worth $710,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,043 shares during the period. Gladius Capital Management LP bought a new stake in shares of Royalty Pharma during the 2nd quarter valued at about $32,000. Blue Trust Inc. increased its position in shares of Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its position in Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 4,683 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RPRX. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Trading Up 0.8 %

Royalty Pharma stock opened at $26.22 on Thursday. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $27.35 and its two-hundred day simple moving average is $27.41. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.20%. Royalty Pharma’s dividend payout ratio is currently 43.52%.

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.