Revvity, Inc. (NYSE:RVTY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $131.73.

A number of research analysts have weighed in on the stock. 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. Citigroup lifted their price objective 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. Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group lifted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The shares were 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 of the company’s stock, valued at $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revvity

A number of hedge funds have recently added to or reduced their stakes in RVTY. EntryPoint Capital LLC acquired a new position in Revvity in the first quarter worth $48,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Revvity by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 168,547 shares of the company’s stock valued at $17,698,000 after acquiring an additional 2,153 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Revvity by 0.8% during the first quarter. California State Teachers Retirement System now owns 196,168 shares of the company’s stock valued at $20,598,000 after acquiring an additional 1,484 shares during the period. Jane Street Group LLC boosted its holdings in shares of Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after acquiring an additional 379,802 shares during the period. Finally, Wahed Invest LLC boosted its holdings in shares of Revvity by 13.6% during the first quarter. Wahed Invest LLC now owns 2,399 shares of the company’s stock valued at $252,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

RVTY opened at $114.66 on Tuesday. The company’s 50 day simple moving average is $120.37 and its 200 day simple moving average is $115.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. Revvity has a 1 year low of $86.30 and a 1 year high of $129.50. The stock has a market capitalization of $13.95 billion, a PE ratio of 55.39, a P/E/G ratio of 2.80 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, sell-side analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid 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 dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its Board of Directors has initiated a share repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.