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

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

Revvity has a dividend payout ratio of 5.4% meaning 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 Stock Performance

Shares of RVTY stock opened at $112.79 on Friday. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $131.96. The stock’s 50-day moving average is $108.72 and its two-hundred day moving average is $106.49. 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 market cap of $13.92 billion, a P/E ratio of 93.22, a PEG ratio of 2.91 and a beta of 1.05.

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

Insider Activity at Revvity

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

Analyst Ratings Changes

RVTY has been the subject of a number of recent research reports. Robert W. Baird upped their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on Revvity in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective on the stock. Barclays reduced their target price on Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. SVB Leerink began coverage on Revvity in a research report on Monday, July 8th. They set an “outperform” rating and a $125.00 target price for the company. Finally, TD Cowen lifted their price target on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.