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

Shares of Revvity, Inc. (NYSE:RVTY) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $136.25.

RVTY has been the topic of a number of analyst reports. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Raymond James reissued an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, Barclays lifted their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revvity

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVTY. Wealth Enhancement Advisory Services LLC lifted its holdings in Revvity by 26.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,114 shares of the company’s stock worth $526,000 after purchasing an additional 868 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Revvity by 1.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 49,256 shares of the company’s stock worth $6,292,000 after purchasing an additional 621 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Revvity by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company’s stock worth $18,124,000 after purchasing an additional 4,263 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Revvity in the 3rd quarter worth approximately $233,000. Finally, Proficio Capital Partners LLC acquired a new stake in Revvity in the 3rd quarter worth approximately $202,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of Revvity stock opened at $111.81 on Thursday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $116.77 and its two-hundred day moving average price is $118.29. Revvity has a 52 week low of $97.32 and a 52 week high of $129.50. The stock 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.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the previous year, the firm earned $1.25 EPS. As a group, sell-side analysts anticipate that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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

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.