Revvity, Inc. (NYSE:RVTY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Revvity, Inc. (NYSE:RVTY) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $132.47.

Several equities analysts have commented on RVTY shares. Raymond James upped their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. 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 note on Friday, December 13th. Barclays lowered their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Leerink Partners upped their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th.

Revvity Stock Performance

Shares of NYSE RVTY opened at $112.56 on Friday. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.70 billion, a P/E ratio of 54.38, a P/E/G ratio of 3.59 and a beta of 1.03. The business’s 50 day moving average is $117.18 and its two-hundred day moving average is $116.46.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share 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 the consensus estimate of $679.66 million. During the same period in the prior year, the firm earned $1.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revvity

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares during the last quarter. State Street Corp raised its position in shares of Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares during the period. Geode Capital Management LLC boosted its stake in Revvity by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after acquiring an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.