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

Royalty Pharma plc (NASDAQ:RPRX) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, May 16th.

Royalty Pharma has increased its dividend 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 dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Research 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 1.0 %

Royalty Pharma stock opened at $27.89 on Friday. The stock has a market cap of $16.66 billion, a PE ratio of 14.76, a P/E/G ratio of 0.78 and a beta of 0.45. 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 stock has a 50-day moving average price of $29.79 and a 200 day moving average price of $28.50. Royalty Pharma has a 52 week low of $25.92 and a 52 week high of $36.48.

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

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Royalty Pharma by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after acquiring an additional 2,224,056 shares during the period. BlackRock Inc. lifted its stake in shares of Royalty Pharma by 2.2% during the first quarter. BlackRock Inc. now owns 19,848,842 shares of the biopharmaceutical company’s stock worth $715,154,000 after purchasing an additional 435,591 shares in the last quarter. Viking Global Investors LP boosted its position in shares of Royalty Pharma by 6.6% in the fourth quarter. Viking Global Investors LP now owns 10,087,417 shares of the biopharmaceutical company’s stock worth $283,356,000 after buying an additional 623,216 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Royalty Pharma by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 8,671,563 shares of the biopharmaceutical company’s stock valued at $312,436,000 after buying an additional 246,816 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Royalty Pharma by 2.7% during the 1st quarter. State Street Corp now owns 8,340,805 shares of the biopharmaceutical company’s stock valued at $300,519,000 after buying an additional 220,923 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.