Proficio Capital Partners LLC Takes Position in Royalty Pharma plc (NASDAQ:RPRX)

Proficio Capital Partners LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 30,816 shares of the biopharmaceutical company’s stock, valued at approximately $786,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after purchasing an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Royalty Pharma by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock worth $79,888,000 after purchasing an additional 130,025 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Royalty Pharma in the 4th quarter worth $2,355,000. Allspring Global Investments Holdings LLC boosted its position in shares of Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock worth $13,926,000 after purchasing an additional 406,123 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after purchasing an additional 936,900 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $33.70 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 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 $34.20. The business has a 50-day moving average price of $32.25 and a 200 day moving average price of $28.72. The firm has a market cap of $19.43 billion, a PE ratio of 23.24, a P/E/G ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Sell-side analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.22 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s payout ratio is 60.69%.

Analysts Set New Price Targets

Separately, TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.60.

About Royalty Pharma

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.