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

Revvity, Inc. (NYSE:RVTY) announced 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%.

Revvity has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research 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

Shares of NYSE RVTY opened at $123.02 on Friday. Revvity has a 52-week low of $97.32 and a 52-week high of $129.50. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 3.67 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $115.02 and its 200 day simple moving average is $117.95.

Revvity (NYSE:RVTY) last announced its earnings results 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 analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. As a group, sell-side analysts forecast that Revvity will post 4.84 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

RVTY has been the topic of a number of research analyst reports. TD Cowen lifted their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Leerink Partners lifted their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Finally, Raymond James lowered their price target on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

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.