Revvity Inc. (NYSE:RVTY) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Revvity Inc. (NYSE:RVTY) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $113.9091.

Several equities analysts have recently weighed in on the company. Bank of America downgraded Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research report on Monday, December 15th. Wells Fargo & Company lifted their price objective on shares of Revvity from $102.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Evercore ISI reissued an “outperform” rating on shares of Revvity in a research note on Monday, January 5th. Barclays lifted their price target on shares of Revvity from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, Robert W. Baird increased their price objective on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th.

Institutional Trading of Revvity

Several institutional investors and hedge funds have recently made changes to their positions in RVTY. Campbell & CO Investment Adviser LLC bought a new stake in Revvity during the third quarter valued at about $905,000. Amundi boosted its holdings in shares of Revvity by 157.0% in the 2nd quarter. Amundi now owns 519,987 shares of the company’s stock valued at $52,467,000 after buying an additional 317,643 shares in the last quarter. Invesco Ltd. grew its position in shares of Revvity by 25.8% in the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock worth $213,481,000 after buying an additional 452,343 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Revvity by 531.8% during the 3rd quarter. SG Americas Securities LLC now owns 42,947 shares of the company’s stock worth $3,764,000 after acquiring an additional 36,149 shares in the last quarter. Finally, Korea Investment CORP lifted its position in Revvity by 61.7% during the second quarter. Korea Investment CORP now owns 71,265 shares of the company’s stock valued at $6,893,000 after acquiring an additional 27,200 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Revvity Trading Down 0.0%

RVTY opened at $108.48 on Friday. The stock has a 50-day moving average of $103.96 and a 200 day moving average of $95.44. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Revvity has a 12 month low of $81.36 and a 12 month high of $128.04. The firm has a market cap of $12.30 billion, a P/E ratio of 54.51, a P/E/G ratio of 3.31 and a beta of 1.05.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 14.07%.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.