Revvity, Inc. (NYSE:RVTY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Revvity, Inc. (NYSE:RVTY) has earned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $126.00.

A number of brokerages have recently issued reports on RVTY. Leerink Partners started coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price for the company. Bank of America lifted their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their price objective on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

Revvity Stock Down 0.1 %

Shares of RVTY stock opened at $121.01 on Thursday. The stock has a market cap of $14.93 billion, a P/E ratio of 100.01, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The stock has a fifty day moving average price of $116.65 and a 200 day moving average price of $109.81. Revvity has a one year low of $79.50 and a one year high of $128.15.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts predict that Revvity will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio is 23.14%.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in Revvity during the second quarter worth about $25,000. Logan Capital Management Inc. bought a new position in Revvity during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC grew its holdings in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. bought a new stake in Revvity in the second quarter valued at approximately $43,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Revvity in the second quarter worth $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

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.