Bank of Montreal Can Boosts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Bank of Montreal Can increased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 186.0% in the third quarter, Holdings Channel.com reports. The firm owned 445,937 shares of the biopharmaceutical company’s stock after acquiring an additional 290,019 shares during the period. Bank of Montreal Can’s holdings in Royalty Pharma were worth $12,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RPRX. B. Riley Wealth Advisors Inc. purchased a new stake in Royalty Pharma during the 1st quarter valued at about $487,000. Atria Investments Inc bought a new position in shares of Royalty Pharma in the first quarter worth approximately $1,185,000. Versant Capital Management Inc increased its stake in shares of Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,043 shares during the period. BDF Gestion bought a new stake in Royalty Pharma during the 2nd quarter valued at $1,007,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Royalty Pharma during the 2nd quarter valued at $5,165,000. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Up 0.2 %

RPRX stock opened at $26.66 on Monday. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 4.68 and a beta of 0.47. The business’s 50 day moving average price is $27.15 and its two-hundred day moving average price is $27.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.15%. Royalty Pharma’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

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

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.