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

Revvity, Inc. (NYSE:RVTY) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Stockholders of record on Friday, April 18th will be paid a dividend of 0.07 per share on Friday, May 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, April 17th.

Revvity has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Revvity to earn $4.99 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 5.6%.

Revvity Stock Performance

RVTY stock opened at $123.27 on Friday. The firm has a market cap of $15.00 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $115.16 and a 200-day moving average price of $117.98. Revvity has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. As a group, equities research analysts expect that Revvity will post 4.84 earnings per share for the current year.

Revvity announced that its Board of Directors has approved a share repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays cut their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Finally, Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Five investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

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.