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

Revvity, Inc. (NYSE:RVTY) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Friday, April 18th will be given a dividend of 0.07 per share on Friday, May 9th. This represents a $0.28 annualized dividend and a yield of 0.23%.

Revvity has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Revvity to earn $5.01 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 Price Performance

RVTY traded up $0.24 on Thursday, hitting $123.02. 971,935 shares of the company’s stock were exchanged, compared to its average volume of 811,932. Revvity has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 3.68 and a beta of 1.03. The firm has a 50-day moving average price of $115.02 and a 200-day moving average price of $117.95. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities analysts anticipate that Revvity will post 4.84 earnings per share for the current year.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’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 of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report 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 objective for the company in a research report on Friday, December 13th. Raymond James cut their target price on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays lowered their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

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

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.