Revvity, Inc. (NYSE:RVTY) Given Average Recommendation of "Moderate Buy" by Analysts

Revvity, Inc. (NYSE:RVTY - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $128.79.

RVTY has been the topic of several analyst reports. Leerink Partnrs upgraded shares of Revvity to a "strong-buy" rating in a research note on Monday, July 8th. JPMorgan Chase & Co. raised their price target 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. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price objective on the stock. Citigroup raised 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. Finally, TD Cowen raised their price objective 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.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business's 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 sale, the insider now owns 19,652 shares of the company's stock, valued at $2,392,237.96. 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 is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares of the company's stock, valued at $2,392,237.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joel S. Goldberg sold 3,500 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares of the company's stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revvity

Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Revvity by 3.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 317,292 shares of the company's stock worth $33,316,000 after purchasing an additional 10,198 shares during the period. Commonwealth Equity Services LLC grew its stake in Revvity by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 16,707 shares of the company's stock valued at $1,754,000 after buying an additional 229 shares in the last quarter. Private Advisor Group LLC grew its stake in Revvity by 95.1% in the 1st quarter. Private Advisor Group LLC now owns 4,440 shares of the company's stock valued at $466,000 after buying an additional 2,164 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Revvity by 68.7% in the 1st quarter. BNP Paribas Financial Markets now owns 185,812 shares of the company's stock valued at $19,510,000 after buying an additional 75,678 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Revvity by 104.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the company's stock valued at $982,000 after buying an additional 4,783 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Stock Up 2.1 %

NYSE:RVTY traded up $2.45 on Friday, reaching $121.04. The stock had a trading volume of 1,454,522 shares, compared to its average volume of 818,094. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Revvity has a 12-month low of $82.17 and a 12-month high of $128.15. The company has a 50-day moving average of $121.39 and a 200 day moving average of $113.79. The stock has a market cap of $14.93 billion, a P/E ratio of 85.91, a price-to-earnings-growth ratio of 3.31 and a beta of 1.05.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analysts' expectations of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. On average, research analysts predict that Revvity will post 4.75 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity's payout ratio is 20.29%.

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.