Revvity (NYSE:RVTY) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Revvity (NYSE:RVTY) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Revvity from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. Royal Bank Of Canada upped their price objective on shares of Revvity from $135.00 to $172.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 4th. Zacks Research raised Revvity from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. William Blair began coverage on Revvity in a research report on Monday, October 5th. They set an “outperform” rating on the stock. Finally, Cfra raised Revvity from a “hold” rating to a “buy” rating in a report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $133.86.

Revvity Stock Down 1.5%

Shares of NYSE:RVTY traded down $2.42 during trading on Friday, hitting $154.60. 1,306,668 shares of the company were exchanged, compared to its average volume of 1,846,673. The stock has a market capitalization of $17.26 billion, a P/E ratio of 68.41, a PEG ratio of 2.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.65 and a quick ratio of 2.10. Revvity has a 12-month low of $81.22 and a 12-month high of $171.74. The firm’s 50 day moving average price is $150.48 and its 200-day moving average price is $114.30.

Revvity (NYSE:RVTY) last issued its earnings results on Tuesday, November 3rd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.08. The business had revenue of $728.90 million during the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a net margin of 8.61% and a return on equity of 8.64%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 EPS. On average, research analysts predict that Revvity will post 5.42 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, January 22nd. Revvity’s dividend payout ratio is presently 12.39%.

Insider Activity

In related news, insider Tajinder S. Vohra sold 7,330 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the transaction, the insider owned 6,635 shares in the company, valued at $934,738.80. The trade was a 52.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Maxwell Krakowiak sold 1,631 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the transaction, the insider owned 14,781 shares in the company, valued at $2,136,297.93. This trade represents a 9.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,045 shares of company stock valued at $1,281,439 in the last quarter. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Revvity during the 2nd quarter worth $3,845,000. The Manufacturers Life Insurance Company increased its holdings in shares of Revvity by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 368,938 shares of the company’s stock valued at $41,048,000 after purchasing an additional 20,278 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Revvity by 10,653.8% in the 2nd quarter. Wellington Management Group LLP now owns 865,575 shares of the company’s stock valued at $96,304,000 after purchasing an additional 857,526 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new position in shares of Revvity in the 2nd quarter valued at about $4,791,000. Finally, State Street Corp lifted its stake in shares of Revvity by 0.8% in the second quarter. State Street Corp now owns 4,342,739 shares of the company’s stock valued at $483,173,000 after purchasing an additional 32,426 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Company Profile

Revvity, Inc. develops and supplies products and services for life sciences research and clinical diagnostics. Its offerings include instruments, reagents, software and related services used by pharmaceutical and biotechnology companies, academic and government research institutions, hospitals and clinical laboratories. The company’s work spans areas such as drug discovery and development, genetic testing, newborn screening and other diagnostic applications. Its technologies help researchers and healthcare providers analyze biological samples and generate information used in research and patient care.