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

Bridgefront Capital LLC bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 12,205 shares of the biopharmaceutical company’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RPRX. Franklin Resources Inc. lifted its stake in Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after buying an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 during the period. Pallas Capital Advisors LLC purchased a new position in Royalty Pharma during the 4th quarter worth approximately $2,355,000. Jupiter Asset Management Ltd. acquired a new stake in Royalty Pharma during the 4th quarter valued at $4,950,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Royalty Pharma by 303.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock valued at $13,926,000 after purchasing an additional 406,123 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 2.0 %

Royalty Pharma stock opened at $32.76 on Thursday. 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 12 month low of $24.05 and a 12 month high of $34.20. The company’s fifty day simple moving average is $32.41 and its 200-day simple moving average is $29.69. The stock has a market cap of $18.88 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.69%. Royalty Pharma’s dividend payout ratio is currently 60.69%.

Wall Street Analyst Weigh In

Separately, Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.50.

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.