Royalty Pharma PLC (NASDAQ:RPRX) Announces $0.22 Quarterly Dividend

Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) declared a quarterly dividend on Friday, July 18th, RTT News reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.22 per share by the biopharmaceutical company on Wednesday, September 10th. This represents a $0.88 annualized dividend and a yield of 2.47%.

Royalty Pharma has a payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 18.1%.

Royalty Pharma Trading Up 0.3%

Shares of NASDAQ:RPRX traded up $0.12 during midday trading on Friday, reaching $35.59. The company's stock had a trading volume of 2,020,693 shares, compared to its average volume of 3,712,651. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.37 and a beta of 0.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day moving average price of $34.49 and a two-hundred day moving average price of $32.72. Royalty Pharma has a fifty-two week low of $24.05 and a fifty-two week high of $36.89.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. As a group, analysts forecast that Royalty Pharma will post 4.49 earnings per share for the current year.

Institutional Investors Weigh In On Royalty Pharma

Several institutional investors have recently made changes to their positions in RPRX. Focus Partners Wealth purchased a new stake in shares of Royalty Pharma in the first quarter worth $264,000. Intech Investment Management LLC increased its stake in Royalty Pharma by 41.0% in the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company's stock valued at $1,494,000 after acquiring an additional 13,951 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Royalty Pharma by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company's stock valued at $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Royalty Pharma by 367.7% in the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company's stock valued at $6,342,000 after acquiring an additional 160,191 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley set a $54.00 target price on Royalty Pharma and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $48.33.

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.