Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 53.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,297 shares of the biopharmaceutical company’s stock after selling 118,379 shares during the period. Synovus Financial Corp’s holdings in Royalty Pharma were worth $2,951,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Royalty Pharma in the third quarter valued at approximately $61,000. Sanctuary Advisors LLC boosted its stake in Royalty Pharma by 78.9% during the third quarter. Sanctuary Advisors LLC now owns 41,466 shares of the biopharmaceutical company’s stock worth $1,096,000 after buying an additional 18,288 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Royalty Pharma by 1.0% during the third quarter. Hohimer Wealth Management LLC now owns 145,357 shares of the biopharmaceutical company’s stock worth $4,112,000 after buying an additional 1,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after buying an additional 417,490 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Royalty Pharma by 4.3% in the 3rd quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 779 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Down 1.5 %

Shares of RPRX opened at $24.84 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm has a market cap of $14.64 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 4.43 and a beta of 0.46. The company’s 50-day moving average price is $26.71 and its 200 day moving average price is $27.23. Royalty Pharma plc has a 12-month low of $24.73 and a 12-month high of $31.66.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.21 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.38%. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RPRX. Citigroup lowered their price target 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. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to 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.