Nordea Investment Management AB Reduces Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Nordea Investment Management AB lowered its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 95.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,793 shares of the biopharmaceutical company's stock after selling 551,229 shares during the period. Nordea Investment Management AB's holdings in Royalty Pharma were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Acadian Asset Management LLC acquired a new position in shares of Royalty Pharma in the 2nd quarter valued at about $250,000. Daiwa Securities Group Inc. raised its holdings in Royalty Pharma by 4.5% during the second quarter. Daiwa Securities Group Inc. now owns 27,694 shares of the biopharmaceutical company's stock worth $730,000 after buying an additional 1,180 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Royalty Pharma by 13.0% in the second quarter. American Century Companies Inc. now owns 60,468 shares of the biopharmaceutical company's stock valued at $1,595,000 after buying an additional 6,955 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Royalty Pharma by 138.8% during the second quarter. Forsta AP Fonden now owns 235,900 shares of the biopharmaceutical company's stock valued at $6,221,000 after buying an additional 137,100 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in shares of Royalty Pharma by 12.7% during the second quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company's stock worth $217,000 after acquiring an additional 926 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $29.49 on Monday. The business's fifty day moving average is $25.94 and its 200 day moving average is $27.05. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 4.36 and a beta of 0.47. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $31.66.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid a $0.22 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.98%. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of analyst reports. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Citigroup reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average 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.