Nordea Investment Management AB Boosts Position in Royalty Pharma PLC $RPRX

Key Points

• Nordea Investment Management AB significantly increased its position in Royalty Pharma PLC by 603.9%, acquiring an additional 562,799 shares in the second quarter.
• Several hedge funds have recently made new investments in Royalty Pharma, with institutional investors now owning 54.35% of the company's stock.
• The company declared a quarterly dividend of $0.22 per share, to be paid on December 10th, representing an annual yield of 2.4%.

Nordea Investment Management AB boosted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 603.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 655,995 shares of the biopharmaceutical company's stock after acquiring an additional 562,799 shares during the quarter. Nordea Investment Management AB owned 0.12% of Royalty Pharma worth $23,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in Royalty Pharma in the second quarter worth about $32,000. Summit Securities Group LLC purchased a new stake in Royalty Pharma in the first quarter worth about $36,000. WPG Advisers LLC purchased a new stake in Royalty Pharma in the first quarter worth about $39,000. Allworth Financial LP increased its position in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Royalty Pharma by 42.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. The Goldman Sachs Group assumed coverage on Royalty Pharma in a research report on Tuesday, September 30th. They issued a "buy" rating and a $42.00 price target for the company. Citigroup upped their price target on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Weiss Ratings upgraded Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley cut their target price on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $46.00.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $37.01 on Friday. The stock has a 50-day moving average price of $36.05 and a 200 day moving average price of $34.82. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00. The stock has a market capitalization of $21.58 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.04 and a beta of 0.60. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The company had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma's dividend payout ratio is presently 50.87%.

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.

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