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

Revvity, Inc. (NYSE:RVTY) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $132.07.

Several analysts recently commented on RVTY shares. Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. Bank of America raised their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Raymond James raised their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revvity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity in the 2nd quarter worth approximately $209,221,000. Jane Street Group LLC grew its holdings in shares of Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after acquiring an additional 379,802 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after acquiring an additional 332,632 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after acquiring an additional 210,100 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its stake in Revvity by 261.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 253,722 shares of the company’s stock valued at $26,641,000 after buying an additional 183,490 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Down 0.7 %

Shares of RVTY stock opened at $124.00 on Friday. The stock’s 50-day simple moving average is $121.64 and its 200-day simple moving average is $114.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56. The firm has a market capitalization of $15.29 billion, a PE ratio of 59.90, a P/E/G ratio of 3.44 and a beta of 1.05. Revvity has a fifty-two week low of $82.17 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’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. Equities analysts expect that Revvity will post 4.75 earnings per share for the current year.

Revvity Announces Dividend

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

Revvity announced that its board has initiated a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.