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

Revvity, Inc. (NYSE:RVTY) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Stockholders of record on Friday, October 18th will be paid a dividend of 0.07 per share on Friday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, October 18th.

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

Shares of NYSE RVTY opened at $124.36 on Wednesday. The firm has a 50 day moving average of $121.50 and a 200 day moving average of $112.77. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 102.78, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. Revvity has a 12-month low of $79.50 and a 12-month high of $128.15.

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

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the sale, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. 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 valued at $937,576 over the last three months. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on RVTY. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $140.00 in a report on Tuesday. Citigroup raised their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company started coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Bank of America lifted 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.53.

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.