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 annualized dividend and a dividend yield of 0.27%.

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

Shares of NYSE:RVTY traded down $0.59 on Thursday, hitting $102.09. The stock had a trading volume of 461,128 shares, compared to its average volume of 849,001. Revvity has a twelve month low of $79.50 and a twelve month high of $132.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The firm’s 50 day moving average price is $104.72 and its 200-day moving average price is $101.50. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.69 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

RVTY has been the topic of several research reports. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $88.00 to $125.00 in a research report on Thursday, January 4th. Raymond James upped their target price 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. Barclays upped their target price on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. KeyCorp upped their target price on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, UBS Group downgraded shares of Revvity from a “buy” rating to a “neutral” rating and upped their target price for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.91.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company 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.