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

Revvity, Inc. (NYSE:RVTY) announced a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders of record on Friday, July 19th will be paid a dividend of 0.07 per share on Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%.

Revvity has a dividend payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Revvity to earn $5.20 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 Trading Down 0.6 %

Shares of Revvity stock traded down $0.59 during trading on Thursday, reaching $102.09. The company’s stock had a trading volume of 461,128 shares, compared to its average volume of 849,001. Revvity has a 52-week low of $79.50 and a 52-week high of $132.54. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.69 and a beta of 1.09. The firm’s 50-day moving average is $104.72 and its two-hundred day moving average is $101.50. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The company had revenue of $695.90 million during the quarter. On average, sell-side analysts anticipate that Revvity will post 4.65 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RVTY shares. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and upped their price target for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Barclays upped their price target on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and upped their price target for the company from $88.00 to $125.00 in a report on Thursday, January 4th. KeyCorp upped their price target on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Raymond James upped their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average target price of $118.91.

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.