Revvity, Inc. (RVTY) to Issue Quarterly Dividend of $0.07 on May 10th

Revvity, Inc. (NYSE:RVTY) declared a quarterly dividend on Thursday, January 25th, RTT News reports. Shareholders of record on Friday, April 19th will be paid a dividend of 0.07 per share on Friday, May 10th. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, April 18th.

Revvity has a payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Revvity to earn $5.18 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 Down 1.1 %

Shares of Revvity stock opened at $102.33 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $105.04 and a 200 day moving average price of $101.79. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $137.09. The firm has a market cap of $12.64 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.69 and a beta of 1.09.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Revvity in the fourth quarter worth $101,000. Bridgefront Capital LLC acquired a new stake in Revvity during the 4th quarter worth about $209,000. Profund Advisors LLC purchased a new position in Revvity during the 4th quarter valued at about $231,000. GTS Securities LLC acquired a new position in shares of Revvity in the 4th quarter valued at about $247,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Revvity in the fourth quarter worth approximately $259,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RVTY shares. Stifel Nicolaus boosted their price objective on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Barclays upped their price target on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Raymond James lifted their price objective on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. KeyCorp upped their target price on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company began coverage on Revvity in a report on Tuesday, December 19th. They set an “equal weight” rating and a $95.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Revvity currently 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.