Bank of Montreal Can Decreases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Bank of Montreal Can lessened its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 67.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RPRX. Aster Capital Management DIFC Ltd grew its position in shares of Royalty Pharma by 36.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,890 shares of the biopharmaceutical company's stock worth $125,000 after buying an additional 1,312 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Royalty Pharma by 32.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,855,791 shares of the biopharmaceutical company's stock worth $47,319,000 after acquiring an additional 449,551 shares in the last quarter. Aviva PLC increased its position in shares of Royalty Pharma by 1,522.0% in the 4th quarter. Aviva PLC now owns 229,069 shares of the biopharmaceutical company's stock valued at $5,844,000 after purchasing an additional 214,946 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Royalty Pharma by 29.1% in the 4th quarter. Wells Fargo & Company MN now owns 70,120 shares of the biopharmaceutical company's stock valued at $1,789,000 after purchasing an additional 15,790 shares in the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Royalty Pharma in the 4th quarter valued at $390,000. Hedge funds and other institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RPRX shares. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $42.50.

Royalty Pharma Stock Performance

RPRX traded up $0.32 on Friday, reaching $32.51. The company had a trading volume of 2,537,288 shares, compared to its average volume of 3,253,145. The stock has a 50-day moving average price of $32.57 and a 200-day moving average price of $29.27. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20. The stock has a market capitalization of $18.74 billion, a PE ratio of 22.42, a P/E/G ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping the consensus estimate 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, research analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

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.