Revvity, Inc. (NYSE:RVTY) Given Consensus Rating of "Moderate Buy" by Brokerages

Revvity, Inc. (NYSE:RVTY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $131.93.

A number of research firms recently commented on RVTY. Robert W. Baird increased their price objective on Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target for the company in a report on Friday, December 13th. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Finally, TD Cowen increased their price target on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Revvity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVTY. Gladius Capital Management LP acquired a new position in shares of Revvity in the third quarter worth about $32,000. EverSource Wealth Advisors LLC increased its holdings in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock valued at $52,000 after buying an additional 399 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Revvity during the 3rd quarter valued at approximately $80,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

NYSE RVTY traded down $1.89 during trading hours on Wednesday, reaching $118.84. The company's stock had a trading volume of 933,587 shares, compared to its average volume of 766,487. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company's 50-day moving average is $115.11 and its two-hundred day moving average is $117.32. Revvity has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a market cap of $14.46 billion, a PE ratio of 57.41, a PEG ratio of 3.56 and a beta of 1.03.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period in the prior year, the business earned $1.18 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that Revvity will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The firm 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity's dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.