Revvity (NYSE:RVTY - Get Free Report) announced that its board has authorized a stock buyback program on Monday, November 4th, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of equities analysts recently commented on RVTY shares. Citigroup lifted their price target on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. TD Cowen lifted their price objective on shares of Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Finally, Leerink Partners lifted their target price on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Revvity has an average rating of "Moderate Buy" and an average price target of $128.79.
Get Our Latest Stock Report on RVTY
Revvity Trading Up 3.1 %
Shares of Revvity stock traded up $3.78 during trading on Monday, hitting $124.82. The stock had a trading volume of 2,388,537 shares, compared to its average volume of 825,470. Revvity has a 1 year low of $82.17 and a 1 year high of $128.83. The stock has a 50 day simple moving average of $121.39 and a 200 day simple moving average of $114.11. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.39 billion, a PE ratio of 92.17, a P/E/G ratio of 3.27 and a beta of 1.06.
Revvity Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, January 17th. Revvity's dividend payout ratio (DPR) is currently 20.29%.
Insider Activity
In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. 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 the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction that occurred 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 sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The stock was 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 in the company, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,807 shares of company stock worth $937,576 over the last quarter. Corporate insiders own 0.60% of the company's stock.
About Revvity
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Revvity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Revvity wasn't on the list.
While Revvity currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
