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

by · The Markets Daily

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 given 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 2.48%.

Royalty Pharma has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.3%

RPRX opened at $35.51 on Friday. Royalty Pharma has a fifty-two week low of $24.05 and a fifty-two week high of $36.89. 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 company has a market capitalization of $19.97 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.37 and a beta of 0.50. The stock has a fifty day moving average of $34.44 and a 200-day moving average of $32.60.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. On average, equities analysts expect that Royalty Pharma will post 4.49 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in 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 downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Finally, Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average target price of $48.33.

Check Out Our Latest Stock Report on RPRX

Hedge Funds Weigh In On Royalty Pharma

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock worth $6,342,000 after buying an additional 160,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Royalty Pharma by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after buying an additional 13,489 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Royalty Pharma by 41.0% during the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 13,951 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Royalty Pharma during the 1st quarter worth $264,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Company Profile

(Get Free Report)

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.

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