Proficio Capital Partners LLC Makes New $786,000 Investment in Royalty Pharma plc (NASDAQ:RPRX)

Proficio Capital Partners LLC bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 30,816 shares of the biopharmaceutical company's stock, valued at approximately $786,000.

Several other hedge funds also recently added to or reduced their stakes in RPRX. Brooklyn Investment Group raised its stake in shares of Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 876 shares during the last quarter. Allworth Financial LP raised its position in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 877 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 997 shares during the period. Blue Trust Inc. grew its stake in shares of Royalty Pharma by 31.3% during the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 376 shares during the period. Finally, Spire Wealth Management increased its holdings in shares of Royalty Pharma by 377.6% during the 4th quarter. Spire Wealth Management now owns 2,149 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 1,699 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

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Royalty Pharma Price Performance

RPRX stock traded up $0.34 during trading on Wednesday, hitting $32.80. The stock had a trading volume of 2,287,864 shares, compared to its average volume of 2,824,862. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20. The company's 50-day moving average price is $31.16 and its two-hundred day moving average price is $28.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $18.91 billion, a P/E ratio of 22.63, a PEG ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results 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%. As a group, research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.22 per share. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.68%. Royalty Pharma's dividend payout ratio is presently 60.69%.

Wall Street Analyst Weigh In

Separately, TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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.