Revvity, Inc. (NYSE:RVTY) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Revvity, Inc. (NYSE:RVTY - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Four 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 price target among brokerages that have issued ratings on the stock in the last year is $136.25.

RVTY has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Raymond James reiterated an "outperform" rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, Barclays raised their price objective on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Revvity

Several large investors have recently made changes to their positions in RVTY. JPMorgan Chase & Co. grew its position in Revvity by 13.7% during the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after buying an additional 41,497 shares during the period. Contravisory Investment Management Inc. boosted its stake in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after acquiring an additional 65,376 shares during the last quarter. Bretton Capital Management LLC bought a new position in shares of Revvity during the 3rd quarter valued at approximately $1,405,000. FMR LLC increased its stake in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company's stock worth $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of Revvity by 942.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company's stock worth $4,865,000 after purchasing an additional 34,428 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

Shares of RVTY traded down $1.28 during trading hours on Friday, reaching $111.34. The stock had a trading volume of 926,044 shares, compared to its average volume of 932,402. The stock has a market capitalization of $13.55 billion, a PE ratio of 50.38, a PEG ratio of 3.97 and a beta of 1.03. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company's 50-day moving average is $117.38 and its two-hundred day moving average is $119.20.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter last year, the business earned $1.25 EPS. Research analysts expect that Revvity will post 4.94 EPS for the current year.

Revvity announced that its Board of Directors has approved a share buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity's payout ratio is 12.67%.

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.