Brokerages Set Revvity, Inc. (NYSE:RVTY) PT at $132.47

Revvity, Inc. (NYSE:RVTY - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $132.47.

Several equities research analysts have recently commented on the stock. Raymond James boosted their target price on shares of Revvity from $144.00 to $146.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Barclays dropped their price objective on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, November 25th. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Sanford C. Bernstein dropped 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.

Revvity Stock Performance

RVTY traded up $2.02 on Friday, hitting $112.56. 2,049,465 shares of the stock traded hands, compared to its average volume of 849,108. The business has a fifty day moving average price of $117.18 and a two-hundred day moving average price of $116.46. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $13.70 billion, a PE ratio of 54.38, a P/E/G ratio of 3.59 and a beta of 1.03. Revvity has a 52 week low of $97.32 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Revvity will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 annualized dividend and a dividend yield of 0.25%. Revvity's dividend payout ratio is presently 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Revvity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of Revvity during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP bought a new stake in Revvity during the third quarter worth $32,000. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in shares of Revvity in the 2nd quarter valued at about $43,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the 2nd quarter worth about $43,000. 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.