Raymond James Trust N.A. Has $703,000 Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Raymond James Trust N.A. lifted its stake in Royalty Pharma plc (NASDAQ:RPRX) by 108.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,858 shares of the biopharmaceutical company’s stock after buying an additional 12,936 shares during the period. Raymond James Trust N.A.’s holdings in Royalty Pharma were worth $703,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RPRX shares. The Goldman Sachs Group boosted their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Citigroup decreased their target price on 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 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $26.47 on Tuesday. The business’s 50-day simple moving average is $27.26 and its 200 day simple moving average is $27.36. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 4.64 and a beta of 0.47. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66.

Royalty Pharma Announces Dividend

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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio is 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.