Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,122,491 shares of the biopharmaceutical company's stock after selling 230,268 shares during the quarter. Baillie Gifford & Co. owned approximately 2.72% of Royalty Pharma worth $456,105,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Summit Global Investments acquired a new position in shares of Royalty Pharma during the third quarter valued at approximately $735,000. River Road Asset Management LLC increased its holdings in shares of Royalty Pharma by 9.8% in the third quarter. River Road Asset Management LLC now owns 469,980 shares of the biopharmaceutical company's stock valued at $13,296,000 after purchasing an additional 41,918 shares during the last quarter. AlphaCentric Advisors LLC increased its holdings in shares of Royalty Pharma by 12.5% in the third quarter. AlphaCentric Advisors LLC now owns 67,500 shares of the biopharmaceutical company's stock valued at $1,910,000 after purchasing an additional 7,500 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Royalty Pharma by 4.2% in the third quarter. Asset Management One Co. Ltd. now owns 148,356 shares of the biopharmaceutical company's stock valued at $4,197,000 after purchasing an additional 5,942 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Royalty Pharma by 48.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 504,835 shares of the biopharmaceutical company's stock valued at $14,282,000 after purchasing an additional 165,440 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Wall Street Analyst Weigh In

RPRX has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Royalty Pharma Stock Performance

RPRX stock traded down $0.50 during trading on Tuesday, hitting $25.86. The company had a trading volume of 1,413,606 shares, compared to its average volume of 2,584,025. The firm has a market cap of $15.35 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.47. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66. The firm has a 50-day moving average price of $27.72 and a 200-day moving average price of $27.51. The company has a quick ratio of 9.35, a current ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is presently 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.