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

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors 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 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, May 16th.

Royalty Pharma has increased its dividend payment by an average of 38.7% per year over the last three years and has raised its dividend every year for the last 4 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 Trading Up 0.5 %

Shares of Royalty Pharma stock opened at $27.61 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. The stock has a market capitalization of $16.50 billion, a PE ratio of 14.61, a P/E/G ratio of 0.78 and a beta of 0.45. Royalty Pharma has a 1-year low of $25.92 and a 1-year high of $36.67. The company’s fifty day simple moving average is $29.81 and its 200-day simple moving average is $28.50.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $736.00 million for 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%. As a group, equities analysts anticipate that Royalty Pharma will post 3.95 earnings per share for the current year.

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its holdings in Royalty Pharma by 210.8% during the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 546 shares during the period. Acadian Asset Management LLC purchased a new position in Royalty Pharma during the 1st quarter valued at about $113,000. Ossiam raised its holdings in shares of Royalty Pharma by 22.3% in the 1st quarter. Ossiam now owns 3,661 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 668 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Royalty Pharma by 54.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 1,208 shares during the period. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Royalty Pharma by 9.4% during the first 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. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RPRX shares. Bank of America decreased their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.