Insider Selling: Revvity, Inc. (NYSE:RVTY) Insider Sells 5,492 Shares of Stock

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Revvity Trading Down 0.2 %

Revvity stock opened at $116.38 on Friday. The firm has a 50-day moving average price of $115.53 and a two-hundred day moving average price of $116.86. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.59 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

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. Sell-side analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity declared that its board has initiated a stock buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently declared 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. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Analysts Set New Price Targets

RVTY has been the subject of several research analyst reports. Raymond James increased their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners boosted their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein reduced their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Institutional Investors Weigh In On Revvity

Several large investors have recently modified their holdings of the stock. Natixis Advisors LLC purchased a new stake in shares of Revvity in the 2nd quarter valued at approximately $1,111,000. TD Asset Management Inc boosted its position in Revvity by 139.1% during the second quarter. TD Asset Management Inc now owns 100,927 shares of the company’s stock worth $10,583,000 after purchasing an additional 58,719 shares during the period. Private Advisor Group LLC grew its position in shares of Revvity by 13.9% in the second quarter. Private Advisor Group LLC now owns 5,056 shares of the company’s stock valued at $530,000 after purchasing an additional 616 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Revvity in the 2nd quarter valued at approximately $133,000. Finally, Choreo LLC bought a new position in shares of Revvity during the 2nd quarter worth about $328,000. 86.65% of the stock is owned by institutional investors.

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.