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

Shares of Revvity, Inc. (NYSE:RVTY) have been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $132.47.

Several brokerages recently issued reports on RVTY. Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays reduced their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein lowered their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Raymond James lifted their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Revvity Stock Performance

Shares of RVTY stock opened at $111.99 on Friday. The stock has a 50-day moving average of $116.29 and a 200-day moving average of $116.54. Revvity has a one year low of $97.32 and a one year high of $129.50. The stock has a market cap of $13.63 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. 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 data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Revvity will post 4.85 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Revvity declared that its board has authorized a stock repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revvity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Revvity by 35.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the company’s stock worth $340,000 after buying an additional 844 shares during the period. Family Firm Inc. acquired a new stake in Revvity during the second quarter worth approximately $43,000. HB Wealth Management LLC bought a new stake in shares of Revvity during the second quarter worth approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Revvity by 76.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock valued at $3,205,000 after purchasing an additional 13,283 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Revvity by 26.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,015 shares of the company’s stock worth $945,000 after purchasing an additional 1,879 shares during the period. 86.65% of the stock is 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.