Nordea Investment Management AB Acquires 120,004 Shares of Royalty Pharma PLC $RPRX

Nordea Investment Management AB grew its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,999 shares of the biopharmaceutical company’s stock after purchasing an additional 120,004 shares during the quarter. Nordea Investment Management AB owned about 0.13% of Royalty Pharma worth $27,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. CWM LLC lifted its stake in Royalty Pharma by 1.5% in the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after buying an additional 281 shares during the period. Augustine Asset Management Inc. increased its stake in shares of Royalty Pharma by 4.4% in the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 283 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Royalty Pharma by 9.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 289 shares during the period. Merit Financial Group LLC lifted its position in shares of Royalty Pharma by 3.5% during the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 306 shares during the period. Finally, Keybank National Association OH boosted its stake in Royalty Pharma by 1.0% during the second quarter. Keybank National Association OH now owns 33,139 shares of the biopharmaceutical company’s stock worth $1,194,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Leerink Partners set a $45.00 price target on Royalty Pharma in a research note on Thursday, December 11th. TD Cowen raised their price objective on Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.60.

Insider Activity

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,582 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $38.42, for a total value of $2,673,340.44. Following the completion of the sale, the chief financial officer owned 39,760 shares in the company, valued at approximately $1,527,579.20. This trade represents a 63.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP George W. Lloyd sold 30,654 shares of Royalty Pharma stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $38.50, for a total transaction of $1,180,179.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 936,093 shares of company stock worth $36,499,945 over the last quarter. Insiders own 18.90% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX opened at $40.21 on Thursday. The firm has a market capitalization of $23.21 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.93 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $29.66 and a 52 week high of $41.70. The stock has a 50 day moving average price of $39.29 and a two-hundred day moving average price of $37.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The company had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. Equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 20th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio (DPR) is currently 71.21%.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.