Royalty Pharma PLC (NASDAQ:RPRX) Announces Quarterly Dividend of $0.23

Royalty Pharma PLC (NASDAQ:RPRX) announced a quarterly dividend on Friday, July 17th. Stockholders of record on Friday, August 14th will be given a dividend of 0.235 per share by the biopharmaceutical company on Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th.

Royalty Pharma has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Royalty Pharma has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Royalty Pharma to earn $5.53 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 17.0%.

Royalty Pharma Price Performance

Shares of RPRX traded up $1.17 during mid-day trading on Wednesday, hitting $58.96. 151,919 shares of the company were exchanged, compared to its average volume of 3,534,631. Royalty Pharma has a 1-year low of $34.08 and a 1-year high of $60.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The company has a 50 day moving average of $56.60 and a 200-day moving average of $50.80. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Analysts expect that Royalty Pharma will post 5.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Citigroup increased their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group boosted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $60.86.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.