Tajinder S. Vohra Sells 5,492 Shares of Revvity, Inc. (NYSE:RVTY) Stock

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Revvity Stock Down 0.2 %

RVTY stock opened at $116.38 on Friday. The company has a 50 day moving average price of $115.53 and a two-hundred day moving average price of $116.86. 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 stock has a market capitalization of $14.16 billion, a P/E ratio of 56.22, a PEG ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating 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 quarter in the previous year, the business earned $1.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Revvity, Inc. 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 given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Revvity during the third quarter worth about $32,000. EverSource Wealth Advisors LLC raised its holdings in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares during the period. Fairfield Financial Advisors LTD acquired a new position in Revvity during the second quarter valued at approximately $43,000. Continuum Advisory LLC grew its stake in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Sanford C. Bernstein reduced their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Raymond James boosted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. TD Cowen upped their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

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.