Brokerages Set Revvity, Inc. (NYSE:RVTY) Target Price at $131.93

Revvity, Inc. (NYSE:RVTY) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $132.46.

A number of brokerages have recently issued reports on RVTY. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James raised their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays reduced their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Finally, Robert W. Baird boosted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RVTY. Empirical Finance LLC raised its holdings in Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after acquiring an additional 85 shares during the period. CX Institutional raised its stake in shares of Revvity by 1.1% during the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after purchasing an additional 86 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its stake in Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after purchasing an additional 104 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in Revvity by 0.8% during the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Revvity Trading Down 1.0 %

NYSE:RVTY opened at $118.29 on Wednesday. The firm has a fifty day simple moving average of $114.94 and a two-hundred day simple moving average of $117.45. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 3.37 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 announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 earnings per share. Analysts expect that Revvity will post 4.84 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s payout ratio is 13.53%.

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