Revvity, Inc. (NYSE:RVTY) Receives $131.73 Average PT from Brokerages

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

A number of research firms recently commented on RVTY. Sanford C. Bernstein lowered their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Raymond James boosted their price objective on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Leerink Partners upped their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th.

Insider Transactions at Revvity

In other Revvity 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 transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC acquired a new position in shares of Revvity during the second quarter valued at about $25,000. Gladius Capital Management LP acquired a new stake in shares of Revvity during the 3rd quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its position in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. acquired a new position in shares of Revvity in the second quarter valued at $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in Revvity in the second quarter worth $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Up 1.0 %

Shares of Revvity stock opened at $116.23 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity has a 1-year low of $86.30 and a 1-year high of $129.50. The business’s fifty day moving average price is $119.84 and its two-hundred day moving average price is $115.89. The company has a market capitalization of $14.15 billion, a P/E ratio of 56.15, a PEG ratio of 2.86 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 EPS. Revvity’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Revvity will post 4.85 EPS for the current year.

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Revvity Announces Dividend

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