Nuveen LLC Invests $27.75 Million in Royalty Pharma PLC $RPRX

Nuveen LLC bought a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 891,378 shares of the biopharmaceutical company's stock, valued at approximately $27,749,000. Nuveen LLC owned about 0.15% of Royalty Pharma at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RPRX. Merit Financial Group LLC acquired a new position in shares of Royalty Pharma during the first quarter valued at about $252,000. M&T Bank Corp increased its stake in Royalty Pharma by 23.4% in the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock valued at $902,000 after acquiring an additional 5,500 shares during the period. Yousif Capital Management LLC bought a new stake in Royalty Pharma in the first quarter valued at about $275,000. Asset Management One Co. Ltd. increased its stake in Royalty Pharma by 8.0% in the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock valued at $5,134,000 after acquiring an additional 12,148 shares during the period. Finally, Amalgamated Bank increased its stake in Royalty Pharma by 4.4% in the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock valued at $636,000 after acquiring an additional 866 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Trading Down 1.8%

NASDAQ RPRX traded down $0.65 during trading hours on Thursday, hitting $36.23. The company's stock had a trading volume of 1,421,310 shares, compared to its average volume of 4,334,262. The stock has a fifty day moving average of $36.12 and a 200 day moving average of $33.83. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The firm has a market capitalization of $21.13 billion, a P/E ratio of 20.95, a PEG ratio of 2.35 and a beta of 0.55. The company has a quick ratio of 1.26, a current 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 data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup upped their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley upped their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $48.00.

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.