Revvity, Inc. (NYSE:RVTY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $131.73.

Several research analysts have recently weighed in on the company. Wells Fargo & Company started coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target for the company. Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Sanford C. Bernstein dropped their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Raymond James increased their price objective on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC purchased a new stake in shares of Revvity during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP bought a new position in shares of Revvity during the third quarter valued at approximately $32,000. Continuum Advisory LLC increased its stake in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Up 0.5 %

NYSE:RVTY opened at $116.69 on Tuesday. 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 firm has a market cap of $14.20 billion, a P/E ratio of 56.37, a P/E/G ratio of 3.57 and a beta of 1.05. Revvity has a fifty-two week low of $88.62 and a fifty-two week high of $129.50. The firm has a 50-day simple moving average of $119.60 and a two-hundred day simple moving average of $116.15.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Revvity will post 4.85 earnings per share for the current fiscal year.

Revvity announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s payout ratio is currently 13.53%.

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.