Revvity, Inc. (NYSE:RVTY) Plans $0.07 Quarterly Dividend

Revvity, Inc. (NYSE:RVTY) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.07 per share on Friday, November 8th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%.

Revvity has a dividend payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Revvity to earn $5.17 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.4%.

Revvity Trading Up 1.1 %

Shares of RVTY opened at $112.79 on Friday. Revvity has a 1-year low of $79.50 and a 1-year high of $131.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $108.72 and a 200-day simple moving average of $106.49. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 93.22, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the business posted $1.01 earnings per share. Revvity’s revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that Revvity will post 4.64 EPS for the current fiscal year.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now directly owns 36,900 shares in the company, valued at $4,075,974. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RVTY shares. TD Cowen upped their target price on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Jefferies Financial Group began coverage on Revvity in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 price target on the stock. Robert W. Baird lifted their price objective on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Finally, SVB Leerink started coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.14.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.