Brokerages Set Revvity, Inc. (NYSE:RVTY) Price Target at $131.73

Shares of Revvity, Inc. (NYSE:RVTY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen analysts that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $131.73.

A number of equities research analysts have issued reports on RVTY shares. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. TD Cowen increased their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Barclays decreased their price objective on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Bank of America increased their target price on Revvity from $118.00 to $127.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th.

Revvity Stock Up 0.4 %

Shares of NYSE RVTY traded up $0.48 during midday trading on Tuesday, hitting $115.14. The company's stock had a trading volume of 1,013,583 shares, compared to its average volume of 844,243. Revvity has a 1 year low of $86.30 and a 1 year high of $129.50. The business's fifty day simple moving average is $120.22 and its two-hundred day simple moving average is $115.89. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. 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 (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, equities analysts predict that Revvity will post 4.85 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity's dividend payout ratio (DPR) is 13.53%.

Revvity announced that its board has authorized a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Transactions at Revvity

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 completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company's stock.

Institutional Trading of Revvity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in Revvity during the 1st quarter worth $48,000. Price T Rowe Associates Inc. MD raised its holdings in Revvity by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 168,547 shares of the company's stock worth $17,698,000 after purchasing an additional 2,153 shares in the last quarter. California State Teachers Retirement System lifted its position in Revvity by 0.8% in the first quarter. California State Teachers Retirement System now owns 196,168 shares of the company's stock valued at $20,598,000 after purchasing an additional 1,484 shares during the period. Jane Street Group LLC boosted its holdings in Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company's stock valued at $47,601,000 after purchasing an additional 379,802 shares in the last quarter. Finally, Wahed Invest LLC raised its stake in shares of Revvity by 13.6% during the 1st quarter. Wahed Invest LLC now owns 2,399 shares of the company's stock worth $252,000 after buying an additional 288 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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.