Analysts Set Revvity, Inc. (NYSE:RVTY) Target Price at $136.25

Revvity, Inc. (NYSE:RVTY) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $136.25.

Several analysts have recently commented on the stock. KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen lifted their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays upped their price objective on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd.

Revvity Stock Down 2.1 %

Revvity stock opened at $112.48 on Friday. The company has a market capitalization of $13.69 billion, a P/E ratio of 50.90, a PEG ratio of 3.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a 50-day simple moving average of $117.43 and a 200-day simple moving average of $119.22.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating 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 prior year, the business posted $1.25 earnings per share. Equities research analysts expect that Revvity will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

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

Revvity announced that its Board of Directors has initiated a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding 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 an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew 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 purchasing an additional 156,679 shares in the last quarter. Janus Henderson Group PLC grew its position in Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares in the last quarter. State Street Corp increased its stake 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 buying an additional 17,832 shares during the period. Geode Capital Management LLC increased 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 valued at $364,569,000 after buying an additional 25,078 shares during the period. Finally, EdgePoint Investment Group Inc. raised its position in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after buying an additional 690,534 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

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.