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

Shares of Revvity, Inc. (NYSE:RVTY) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $118.69.

RVTY has been the topic of a number of analyst reports. Robert W. Baird raised their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. TD Cowen increased their price target on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group initiated coverage on Revvity in a research report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price objective for the company. Finally, Barclays reduced their target price on Revvity from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at $4,075,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Institutional Trading of Revvity

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Revvity in the third quarter valued at $1,579,487,000. Capital Research Global Investors purchased a new position in Revvity in the 4th quarter valued at about $838,080,000. Janus Henderson Group PLC grew its stake in shares of Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after acquiring an additional 332,632 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Revvity during the fourth quarter worth about $129,483,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Performance

NYSE RVTY opened at $102.48 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $131.96. The business has a fifty day moving average of $107.17 and a 200-day moving average of $106.35. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 84.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The firm had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts predict that Revvity will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s dividend payout ratio (DPR) is 23.14%.

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.