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

Revvity, Inc. (NYSE:RVTY) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $132.00.

A number of equities research analysts recently commented on the stock. TD Cowen increased their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Leerink Partners raised their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays reduced their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Bank of America raised 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. Finally, Raymond James decreased their price objective on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new stake in Revvity in the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC increased its stake in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after buying an additional 399 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Up 4.7 %

Shares of NYSE RVTY opened at $123.97 on Wednesday. Revvity has a 12-month low of $97.32 and a 12-month high of $129.50. The stock’s fifty day simple moving average is $114.89 and its two-hundred day simple moving average is $117.77. The stock has a market capitalization of $15.09 billion, a PE ratio of 59.89, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued 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. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. As a group, analysts expect that Revvity will post 4.84 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.