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

Revvity, Inc. (NYSE:RVTY - Get Free Report) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Friday, January 17th will be paid a dividend of 0.07 per share on Friday, February 7th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%.

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

Shares of RVTY stock traded down $2.36 on Thursday, hitting $116.14. 728,776 shares of the company's stock were exchanged, compared to its average volume of 815,651. The company has a 50 day moving average of $121.66 and a 200 day moving average of $113.41. The stock has a market cap of $14.33 billion, a P/E ratio of 97.93, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. Revvity has a 12 month low of $79.50 and a 12 month high of $128.15.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The firm had revenue of $691.70 million during the quarter, compared to analysts' expectations of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, equities research analysts predict that Revvity will post 4.75 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,807 shares of company stock worth $937,576. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RVTY. Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 target price on the stock. TD Cowen upped their target price on Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Citigroup increased their target price on Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Leerink Partnrs upgraded shares of Revvity to a "strong-buy" rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.20.

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.

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