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

Royalty Pharma PLC (NASDAQ:RPRX) announced a quarterly dividend on Friday, July 17th. Stockholders of record on Friday, August 14th will be paid 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 payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Royalty Pharma has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 2.0%

RPRX traded up $1.16 during trading on Wednesday, hitting $58.95. 344,547 shares of the stock were exchanged, compared to its average volume of 3,534,631. The firm has a 50 day simple moving average of $56.60 and a 200 day simple moving average of $50.80. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 1.35 and a beta of 0.43. 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.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Citigroup upped their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price target on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $60.86.

About Royalty Pharma

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.