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

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

Revvity has a payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

NYSE RVTY opened at $116.16 on Friday. Revvity has a 52-week low of $79.50 and a 52-week high of $128.15. The stock has a market cap of $14.33 billion, a PE ratio of 96.00, a P/E/G ratio of 3.35 and a beta of 1.05. The firm has a 50-day moving average of $121.58 and a 200-day moving average of $113.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. On average, sell-side analysts anticipate that Revvity will post 4.75 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RVTY. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen lifted their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Leerink Partners increased their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Finally, Citigroup increased their price objective on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $127.20.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock worth $937,576 in the last three months. 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.