Revvity, Inc. (NYSE:RVTY) Receives $132.47 Consensus Target Price from Brokerages

Shares of Revvity, Inc. (NYSE:RVTY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the sixteen ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $132.47.

RVTY has been the topic of a number of research reports. Sanford C. Bernstein lowered their price objective on shares of Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Raymond James increased their price target on shares of Revvity from $144.00 to $146.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Barclays cut their price objective on Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price on the stock in a report on Friday, December 13th. Finally, TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th.

Revvity Price Performance

Shares of RVTY stock traded up $2.02 during midday trading on Friday, reaching $112.56. 2,049,465 shares of the company traded hands, compared to its average volume of 849,108. The firm's 50 day simple moving average is $117.18 and its two-hundred day simple moving average is $116.52. The firm has a market cap of $13.70 billion, a PE ratio of 54.38, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity 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 Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analysts' expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, equities research analysts expect that Revvity will post 4.85 EPS for the current fiscal year.

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 given a $0.07 dividend. The ex-dividend date of this dividend 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 has authorized a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the business's 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 sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC purchased a new position in Revvity in the second quarter valued at about $25,000. Gladius Capital Management LP purchased a new stake in shares of Revvity during the 3rd quarter valued at about $32,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after acquiring an additional 327 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after acquiring an additional 167 shares during the period. Finally, Avior Wealth Management LLC grew its position in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock valued at $52,000 after acquiring an additional 399 shares in the last quarter. 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.