Nordea Investment Management AB Purchases 562,799 Shares of Royalty Pharma PLC $RPRX

Nordea Investment Management AB grew its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 603.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 655,995 shares of the biopharmaceutical company’s stock after purchasing an additional 562,799 shares during the period. Nordea Investment Management AB’s holdings in Royalty Pharma were worth $23,701,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. S Bank Fund Management Ltd bought a new stake in shares of Royalty Pharma in the 2nd quarter valued at approximately $1,568,000. Allianz Asset Management GmbH lifted its stake in shares of Royalty Pharma by 87.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 362,546 shares of the biopharmaceutical company’s stock valued at $13,063,000 after purchasing an additional 168,955 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Royalty Pharma by 23.9% in the 2nd quarter. TD Asset Management Inc now owns 103,066 shares of the biopharmaceutical company’s stock valued at $3,713,000 after purchasing an additional 19,855 shares during the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Royalty Pharma in the 2nd quarter valued at approximately $299,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Royalty Pharma in the 2nd quarter valued at approximately $233,000. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 1.8%

Shares of NASDAQ RPRX opened at $37.01 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $36.05 and a two-hundred day simple moving average of $34.82. The firm has a market cap of $21.58 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.04 and a beta of 0.60. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given 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 payout ratio is 50.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Citigroup raised their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Weiss Ratings upgraded Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $46.00.

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.