Royalty Pharma plc (NASDAQ:RPRX) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 186.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 445,937 shares of the biopharmaceutical company's stock after acquiring an additional 290,019 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of Royalty Pharma worth $12,580,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Swedbank AB increased its holdings in shares of Royalty Pharma by 30.6% in the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company's stock valued at $285,151,000 after acquiring an additional 2,533,570 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Royalty Pharma by 171.1% during the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company's stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments bought a new position in shares of Royalty Pharma in the 3rd quarter worth about $735,000. New South Capital Management Inc. boosted its holdings in shares of Royalty Pharma by 5.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company's stock valued at $69,774,000 after buying an additional 117,394 shares during the period. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Royalty Pharma during the 3rd quarter valued at about $976,000. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RPRX shares. The Goldman Sachs Group lifted their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup dropped their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Royalty Pharma has an average rating of "Moderate Buy" and an average target price of $41.67.

Royalty Pharma Stock Performance

RPRX stock traded down $0.23 on Monday, reaching $26.43. The company's stock had a trading volume of 2,113,638 shares, compared to its average volume of 2,638,046. The firm has a fifty day moving average of $27.15 and a two-hundred day moving average of $27.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $15.57 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 4.68 and a beta of 0.47. Royalty Pharma plc has a 52 week low of $25.10 and a 52 week high of $31.66.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.

Royalty Pharma Company 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.