Royalty Pharma plc (RPRX) to Issue Quarterly Dividend of $0.21 on June 14th

Royalty Pharma plc (NASDAQ:RPRX) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.21 per share by the biopharmaceutical company on Friday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. 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 raised its dividend annually for the last 4 consecutive years. Royalty Pharma has a dividend payout ratio of 18.3% meaning 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 Stock Up 1.0 %

RPRX opened at $27.89 on Friday. The company has a fifty day moving average of $29.79 and a two-hundred day moving average of $28.50. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.78 and a beta of 0.45. Royalty Pharma has a fifty-two week low of $25.92 and a fifty-two week high of $36.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.90 and a current ratio of 7.90.

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

Analyst Upgrades and Downgrades

RPRX has been the subject of several research analyst reports. Bank of America reduced their target price on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. The Goldman Sachs Group dropped their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. reduced 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 report on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $46.75.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors increased its holdings in shares of Royalty Pharma by 210.8% in the second quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 546 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Royalty Pharma in the 1st quarter worth $113,000. PNC Financial Services Group Inc. raised its holdings in shares of Royalty Pharma by 54.5% during the 1st 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. Ossiam boosted its position in shares of Royalty Pharma by 22.3% during the 1st quarter. Ossiam now owns 3,661 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 668 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Royalty Pharma by 9.4% in 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 during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

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.