Revvity, Inc. (NYSE:RVTY) Receives Average Rating of “Moderate Buy” from Analysts

Revvity, Inc. (NYSE:RVTY) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $132.47.

Several equities research analysts have recently issued reports on RVTY shares. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Friday, December 13th. Raymond James increased their target price 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. Sanford C. Bernstein reduced their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Barclays reduced their target price 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. Finally, TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Revvity

Several large investors have recently modified their holdings of the business. Bretton Capital Management LLC purchased a new position in shares of Revvity during the third quarter valued at approximately $1,405,000. FMR LLC lifted its stake in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Revvity by 76.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after purchasing an additional 13,283 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after purchasing an additional 34,428 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Revvity by 12,674.8% during the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after buying an additional 13,562 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Performance

Shares of Revvity stock opened at $112.34 on Friday. The firm has a market capitalization of $13.67 billion, a P/E ratio of 54.27, a PEG ratio of 3.59 and a beta of 1.03. Revvity has a 52 week low of $97.32 and a 52 week high of $129.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $116.73 and a 200 day moving average price of $116.58.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity declared that its board has initiated a stock buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid 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 0.25%. Revvity’s dividend payout ratio (DPR) is 13.53%.

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.