Revvity (NYSE:RVTY) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Revvity (NYSE:RVTY) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat.com reports. The firm currently has $138.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company began coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Raymond James boosted their price objective on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $132.47.

Revvity Stock Down 0.0 %

Shares of NYSE RVTY opened at $115.97 on Friday. Revvity has a 1 year low of $97.32 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 3.59 and a beta of 1.03. The stock’s 50-day simple moving average is $118.25 and its 200-day simple moving average is $116.34.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same period last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Revvity will post 4.85 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 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s payout ratio is currently 13.53%.

Revvity announced that its Board of Directors has authorized a share buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on 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 transaction, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revvity

Hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in shares of Revvity in the second quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in Revvity during the third quarter valued at approximately $32,000. Continuum Advisory LLC increased its stake in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the period. EverSource Wealth Advisors LLC lifted its position in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after buying an additional 167 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.