Revvity (NYSE:RVTY) Hits New 52-Week High - What's Next?

Revvity, Inc. (NYSE:RVTY - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $128.83 and last traded at $127.94, with a volume of 667567 shares traded. The stock had previously closed at $121.04.

Analyst Ratings Changes

A number of brokerages have recently commented on RVTY. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. TD Cowen boosted their target price on shares of Revvity from $130.00 to $141.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Finally, Leerink Partnrs raised shares of Revvity to a "strong-buy" rating in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.79.

Revvity Stock Up 3.1 %

The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $121.46 and a two-hundred day simple moving average of $114.29. The firm has a market capitalization of $15.39 billion, a P/E ratio of 90.45, a P/E/G ratio of 3.27 and a beta of 1.06.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity's payout ratio is 20.29%.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now directly owns 23,960 shares of the company's stock, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Tajinder S. Vohra sold 2,153 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company's stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of the company's stock in a transaction 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 sale, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,807 shares of company stock valued at $937,576 in the last 90 days. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in Revvity in the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after buying an additional 167 shares during the period. Family Firm Inc. bought a new stake in shares of Revvity during the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD purchased a new position in Revvity during the 2nd quarter valued at $43,000. Finally, EntryPoint Capital LLC bought a new position in Revvity in the 1st quarter valued at $48,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

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.