Revvity, Inc. (NYSE:RVTY) Insider Joel S. Goldberg Sells 15,170 Shares

Revvity, Inc. (NYSE:RVTY - Get Free Report) insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Revvity Price Performance

NYSE:RVTY traded down $0.53 during trading hours on Tuesday, hitting $123.16. 839,354 shares of the stock traded hands, compared to its average volume of 903,662. The stock has a 50 day moving average price of $117.06 and a 200 day moving average price of $118.90. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter last year, the business earned $1.25 earnings per share. Sell-side analysts forecast that Revvity, Inc. will post 4.97 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's dividend payout ratio is currently 12.67%.

Revvity announced that its board has authorized a share buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on RVTY. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. KeyCorp boosted their price target on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday. TD Cowen raised their price objective on Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Raymond James reissued an "outperform" rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a report on Monday. Finally, Leerink Partners lifted their price target on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.25.

Institutional Trading of Revvity

A number of institutional investors have recently bought and sold shares of RVTY. Gladius Capital Management LP acquired a new position in Revvity in the third quarter valued at approximately $32,000. Continuum Advisory LLC increased its stake in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after purchasing an additional 138 shares during the period. Avior Wealth Management LLC boosted its position in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock worth $52,000 after purchasing an additional 399 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Revvity by 54.9% in the 4th quarter. Principal Securities Inc. now owns 598 shares of the company's stock worth $67,000 after acquiring an additional 212 shares in the last quarter. 86.65% of the stock is currently 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.