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

Shares of Revvity, Inc. (NYSE:RVTY) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $132.47.

A number of equities analysts have issued reports on the company. Raymond James increased their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Robert W. Baird upped their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein decreased their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Finally, TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

Revvity Trading Up 1.8 %

NYSE RVTY opened at $112.56 on Friday. Revvity has a one year low of $97.32 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The firm has a market cap of $13.70 billion, a P/E ratio of 54.38, a P/E/G ratio of 3.59 and a beta of 1.03. The stock’s 50-day moving average is $117.18 and its 200-day moving average is $116.46.

Revvity (NYSE:RVTY) last announced its 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. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. Sell-side analysts anticipate that Revvity will post 4.85 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

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

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Trading of Revvity

Several hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in Revvity during the 2nd quarter worth $25,000. Gladius Capital Management LP acquired a new position in shares of Revvity during the 3rd quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 167 shares in the last quarter. Family Firm Inc. bought a new position in shares of Revvity during the second quarter worth approximately $43,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Revvity in the second quarter valued at approximately $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.