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

Revvity, Inc. (NYSE:RVTY) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Six investment 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 brokerages that have issued ratings on the stock in the last year is $131.93.

Several equities analysts recently weighed in on the company. Raymond James lifted their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners boosted their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays decreased their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird lifted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Revvity Trading Down 1.8 %

Revvity stock opened at $120.50 on Wednesday. Revvity has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market cap of $14.67 billion, a P/E ratio of 58.21, a P/E/G ratio of 3.56 and a beta of 1.03. 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 business has a 50-day simple moving average of $115.23 and a two-hundred day simple moving average of $117.31.

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

Revvity declared that its board has approved a stock buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

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

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.