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

Nordea Investment Management AB cut its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 95.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 943 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Royalty Pharma during the third quarter worth $61,000. GAMMA Investing LLC lifted its holdings in shares of Royalty Pharma by 31.4% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 590 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Royalty Pharma by 99.9% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 1,729 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $29.49 on Monday. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $31.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $25.94 and its 200 day simple moving average is $27.05. The firm has a market capitalization of $17.38 billion, a PE ratio of 15.28, a P/E/G ratio of 4.36 and a beta of 0.47.

Royalty Pharma Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on RPRX. Citigroup decreased their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $41.67.

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.