Revvity (NYSE:RVTY) Hits New 12-Month High – Time to Buy?

Revvity, Inc. (NYSE:RVTY)’s share price hit a new 52-week high on Monday . The stock traded as high as $128.83 and last traded at $127.94, with a volume of 667567 shares trading hands. The stock had previously closed at $121.04.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research reports. Citigroup raised their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Cowen raised their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company assumed coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.79.

Revvity Stock Performance

The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 92.17, a PEG ratio of 3.27 and a beta of 1.06. The stock’s 50 day moving average is $121.39 and its two-hundred day moving average is $114.11. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

Revvity Announces Dividend

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 dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s dividend payout ratio is presently 20.29%.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,807 shares of company stock worth $937,576 in the last three months. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revvity

Several institutional investors have recently made changes to their positions in RVTY. Rothschild Investment LLC bought a new position in shares of Revvity during the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after acquiring an additional 167 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Revvity during the second quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Revvity during the second quarter valued at $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity in the 1st quarter worth approximately $48,000. 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.