Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,652 shares of the biopharmaceutical company's stock after purchasing an additional 18,207 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Royalty Pharma were worth $4,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RPRX. Brooklyn Investment Group boosted its holdings in shares of Royalty Pharma by 1,006.9% in the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 876 shares in the last quarter. Allworth Financial LP boosted its stake in Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 877 shares in the last quarter. Riverview Trust Co grew its position in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,186 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 997 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 376 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

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Royalty Pharma Trading Up 1.2 %

Shares of Royalty Pharma stock traded up $0.39 on Tuesday, hitting $33.41. The stock had a trading volume of 2,714,300 shares, compared to its average volume of 2,824,295. 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 one year low of $24.05 and a one year high of $34.20. The stock's 50-day simple moving average is $31.73 and its two-hundred day simple moving average is $28.59. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, sell-side analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is currently 60.69%.

Analyst Upgrades and Downgrades

Separately, TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average 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.