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

Revvity, Inc. (NYSE:RVTY) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors 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 payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Revvity to earn $4.99 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 Stock Performance

NYSE RVTY opened at $123.02 on Friday. The company’s fifty day moving average is $115.02 and its two-hundred day moving average is $117.95. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 3.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity has a 52-week low of $97.32 and a 52-week high of $129.50.

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

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

RVTY has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. Raymond James decreased their price objective on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Five 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

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.