Glenmede Trust Co. NA Sells 198,419 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Glenmede Trust Co. NA lessened its stake in Royalty Pharma plc (NASDAQ:RPRX) by 80.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,579 shares of the biopharmaceutical company’s stock after selling 198,419 shares during the quarter. Glenmede Trust Co. NA’s holdings in Royalty Pharma were worth $1,403,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB increased its stake 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 grew its holdings in Royalty Pharma by 171.1% during the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock valued at $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments bought a new stake in Royalty Pharma in the third quarter valued at approximately $735,000. New South Capital Management Inc. raised its holdings 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 during the period. Finally, Cannon Global Investment Management LLC bought a new position in shares of Royalty Pharma during the third quarter worth $976,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup dropped their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Royalty Pharma Stock Up 0.2 %

NASDAQ:RPRX opened at $26.66 on Monday. The stock has a 50-day simple moving average of $27.15 and a 200 day simple moving average of $27.32. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66. The company has a market cap of $15.71 billion, a PE ratio of 13.81, a PEG 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 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 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 dividend yield of 3.15%. Royalty Pharma’s dividend payout ratio is currently 43.52%.

About Royalty Pharma

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.