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

Shares of Revvity, Inc. (NYSE:RVTY) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $136.25.

RVTY has been the subject of a number of research analyst reports. Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, December 13th. KeyCorp boosted their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The stock was 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 in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 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 added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its stake in shares of Revvity by 16.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock worth $2,317,170,000 after acquiring an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Revvity by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after acquiring an additional 156,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock worth $709,725,000 after acquiring an additional 23,650 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after acquiring an additional 17,832 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Up 2.3 %

Shares of RVTY stock opened at $111.81 on Thursday. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The firm has a market cap of $13.43 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. The stock has a 50 day moving average of $116.77 and a 200-day moving average of $118.29. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter last year, the firm earned $1.25 earnings per share. On average, equities analysts predict that Revvity will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is 12.67%.

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.