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

Revvity, Inc. (NYSE:RVTY) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Friday, January 17th will be paid a dividend of 0.07 per share on Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%.

Revvity has a payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Revvity to earn $5.16 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 Stock Down 2.0 %

RVTY stock opened at $116.16 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The company’s 50 day simple moving average is $121.58 and its 200-day simple moving average is $113.43. Revvity has a 12 month low of $79.50 and a 12 month high of $128.15. The firm has a market capitalization of $14.33 billion, a PE ratio of 96.00, a P/E/G ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter in the prior year, the firm earned $1.21 EPS. Revvity’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

RVTY has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Citigroup increased their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $127.20.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,807 shares of company stock worth $937,576. 0.60% of the stock is currently owned by company insiders.

Revvity Company Profile

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.