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

Revvity, Inc. (NYSE:RVTY) has earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $132.07.

A number of research analysts have weighed in on RVTY shares. Robert W. Baird increased their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company started coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock. Sanford C. Bernstein reduced their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was 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 $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Large investors have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in shares of Revvity during the second quarter worth about $25,000. Gladius Capital Management LP bought a new position in shares of Revvity during the third quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its holdings in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after acquiring an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in Revvity in the second quarter worth about $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in Revvity in the second quarter worth about $43,000. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

RVTY stock opened at $124.00 on Friday. Revvity has a 1 year low of $82.17 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56. The stock’s 50 day moving average price is $121.64 and its 200 day moving average price is $114.61. The firm has a market cap of $15.29 billion, a P/E ratio of 59.90, a PEG ratio of 3.44 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share 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 company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s dividend payout ratio is currently 13.53%.

Revvity announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.