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

Revvity, Inc. (NYSE:RVTY) announced 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 dividend on an annualized basis and a dividend yield of 0.23%.

Revvity has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. 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 stock traded up $0.24 during trading on Thursday, hitting $123.02. The stock had a trading volume of 971,935 shares, compared to its average volume of 811,932. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 59.43, a price-to-earnings-growth ratio of 3.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company’s 50 day moving average price is $115.02 and its two-hundred day moving average price is $117.95. Revvity has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the previous year, the business posted $1.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Revvity will post 4.84 EPS for the current fiscal year.

Revvity declared that its Board of Directors has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James lowered their price objective on Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Robert W. Baird increased their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays cut 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. Five equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.00.

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.