Royalty Pharma plc (NASDAQ:RPRX) Position Decreased by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 80.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,579 shares of the biopharmaceutical company's stock after selling 198,419 shares during the period. Glenmede Trust Co. NA's holdings in Royalty Pharma were worth $1,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB boosted its stake in Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock valued at $311,964,000 after acquiring an additional 213,900 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock valued at $84,915,000 after purchasing an additional 1,103,341 shares in the last quarter. New South Capital Management Inc. grew its stake in Royalty Pharma by 5.0% in the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company's stock worth $69,774,000 after purchasing an additional 117,394 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Royalty Pharma by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company's stock valued at $40,428,000 after buying an additional 86,248 shares during the last quarter. Finally, Regal Partners Ltd raised its stake in Royalty Pharma by 22.7% during the second quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company's stock valued at $31,053,000 after buying an additional 217,774 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RPRX shares. The Goldman Sachs Group boosted 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. Citigroup dropped their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Finally, StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX traded down $0.23 on Monday, hitting $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 company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 4.68 and a beta of 0.47. 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 plc has a 12 month low of $25.10 and a 12 month high of $31.66. The stock's 50-day moving average is $27.15 and its two-hundred day moving average is $27.32.

Royalty Pharma Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.18%. Royalty Pharma's payout ratio is 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.