Royalty Pharma plc to Issue Quarterly Dividend of $0.21 (NASDAQ:RPRX)

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.21 per share by the biopharmaceutical company on Friday, June 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, May 16th.

Royalty Pharma has raised its dividend by an average of 38.7% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Royalty Pharma has a payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.5%.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $27.61 on Thursday. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $29.81 and a 200-day simple moving average of $28.50. The stock has a market cap of $16.50 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 0.78 and a beta of 0.45. Royalty Pharma has a 12-month low of $25.92 and a 12-month high of $36.67.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Royalty Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of Royalty Pharma by 210.8% during the second quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 546 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Royalty Pharma in the first quarter valued at approximately $113,000. Ossiam raised its position in Royalty Pharma by 22.3% during the 1st quarter. Ossiam now owns 3,661 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 668 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Royalty Pharma by 54.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 1,208 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in Royalty Pharma by 9.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

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.