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

Shares of Revvity, Inc. (NYSE:RVTY) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $131.73.

A number of research firms recently weighed in on RVTY. 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 research report on Monday. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Citigroup boosted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC boosted its stake in shares of Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after purchasing an additional 84,515 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Revvity by 27.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock worth $8,790,000 after purchasing an additional 18,367 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Revvity during the 1st quarter worth about $1,214,000. Finally, Artemis Investment Management LLP boosted its position in shares of Revvity by 21.3% in the second quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock worth $11,287,000 after acquiring an additional 18,916 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Up 2.3 %

NYSE:RVTY opened at $114.66 on Tuesday. The firm has a market capitalization of $13.95 billion, a P/E ratio of 55.39, a PEG ratio of 2.80 and a beta of 1.05. Revvity has a 1-year low of $86.30 and a 1-year high of $129.50. The company’s fifty day moving average price is $120.37 and its 200-day moving average price is $115.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter last year, the business earned $1.18 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Revvity will post 4.85 EPS for the current year.

Revvity Dividend Announcement

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

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

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.