Revvity, Inc. (NYSE:RVTY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $132.47.

RVTY has been the topic of several research reports. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Raymond James boosted their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein reduced their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several hedge funds and other institutional investors have recently made changes to their positions in RVTY. EdgePoint Investment Group Inc. acquired a new stake in Revvity in the second quarter worth about $209,221,000. Southpoint Capital Advisors LP acquired a new stake in shares of Revvity during the 3rd quarter worth approximately $25,550,000. Janus Henderson Group PLC raised its stake in shares of Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares during the last quarter. Holocene Advisors LP lifted its holdings in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after buying an additional 92,240 shares during the period. Finally, RGM Capital LLC boosted its stake in Revvity by 6.7% in the second quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock valued at $99,707,000 after acquiring an additional 59,994 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Trading Down 0.5 %

NYSE:RVTY opened at $111.99 on Friday. The company’s 50 day moving average is $116.29 and its 200-day moving average is $116.54. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 54.10, a P/E/G ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same period in the previous year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that Revvity will post 4.85 EPS for the current year.

Revvity declared that its Board of Directors has initiated a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is presently 13.53%.

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.