Revvity Inc. (NYSE:RVTY) to Issue Quarterly Dividend of $0.07

Revvity Inc. (NYSE:RVTY - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Friday, October 17th will be given a dividend of 0.07 per share on Friday, November 7th. This represents a $0.28 annualized dividend and a yield of 0.27%.

Revvity has a payout ratio of 5.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Revvity to earn $5.56 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 5.0%.

Revvity Stock Performance

Shares of NYSE RVTY traded up $2.54 during trading on Thursday, reaching $101.99. 1,700,766 shares of the stock traded hands, compared to its average volume of 1,141,806. Revvity has a 52-week low of $87.70 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99. The company has a 50-day moving average of $95.09 and a 200-day moving average of $103.62. The stock has a market capitalization of $12.02 billion, a P/E ratio of 43.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.98.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The firm had revenue of $664.76 million for the quarter, compared to analysts' expectations of $662.30 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Institutional Trading of Revvity

Several hedge funds have recently bought and sold shares of RVTY. Goldman Sachs Group Inc. raised its position in Revvity by 45.5% during the first quarter. Goldman Sachs Group Inc. now owns 607,104 shares of the company's stock valued at $64,232,000 after purchasing an additional 189,871 shares during the period. Millennium Management LLC raised its position in Revvity by 102.0% during the first quarter. Millennium Management LLC now owns 69,401 shares of the company's stock valued at $7,343,000 after purchasing an additional 35,048 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Revvity by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,776 shares of the company's stock worth $1,246,000 after buying an additional 744 shares during the period. AQR Capital Management LLC raised its holdings in shares of Revvity by 5.2% in the first quarter. AQR Capital Management LLC now owns 8,449 shares of the company's stock worth $883,000 after buying an additional 420 shares during the period. Finally, Focus Partners Wealth raised its holdings in shares of Revvity by 13.0% in the first quarter. Focus Partners Wealth now owns 7,028 shares of the company's stock worth $744,000 after buying an additional 811 shares during the period. Institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RVTY shares. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Raymond James Financial reiterated an "outperform" rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Robert W. Baird decreased their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.07.

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.

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