Zurcher Kantonalbank Zurich Cantonalbank Has $4.44 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,445 shares of the biopharmaceutical company’s stock after selling 6,489 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royalty Pharma were worth $4,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB grew its holdings in Royalty Pharma by 30.6% in the second quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company’s stock worth $285,151,000 after purchasing an additional 2,533,570 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after buying an additional 1,103,341 shares during the period. New South Capital Management Inc. grew its stake in shares of Royalty Pharma by 60.7% in the 2nd quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock valued at $61,943,000 after buying an additional 887,522 shares during the period. Dark Forest Capital Management LP increased its position in Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock valued at $8,931,000 after buying an additional 327,659 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Royalty Pharma by 69.0% during the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after buying an additional 320,606 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $26.43 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.57 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 4.68 and a beta of 0.47. The stock’s fifty day simple moving average is $27.15 and its two-hundred day simple moving average is $27.32. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

RPRX has been the subject of several recent research reports. Citigroup decreased their price objective 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 note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus price target 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.