Zurcher Kantonalbank Zurich Cantonalbank Has $3.94 Million Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 33.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 140,412 shares of the biopharmaceutical company’s stock after selling 69,164 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royalty Pharma were worth $3,944,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Royalty Pharma by 89.8% during the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Royalty Pharma by 112.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 531 shares during the last quarter. CWM LLC boosted its stake in Royalty Pharma by 75.9% during the 3rd quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,064 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Royalty Pharma by 10.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 536 shares during the last quarter. Finally, Park Place Capital Corp boosted its stake in Royalty Pharma by 52.2% during the 4th quarter. Park Place Capital Corp now owns 5,656 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 1,939 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $27.82 on Tuesday. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $16.62 billion, a PE ratio of 14.72 and a beta of 0.45. The stock’s 50 day moving average price is $29.74 and its 200-day moving average price is $28.54. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $36.19.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $736.00 million for the quarter, compared to analysts’ expectations of $702.90 million. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. On average, equities analysts anticipate that Royalty Pharma plc will post 3.95 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. Royalty Pharma’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RPRX shares. Bank of America cut their price target on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. cut their target price on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group cut their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $46.75.

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.