Revvity (NYSE:RVTY) Downgraded by Sanford C. Bernstein to "Market Perform"

Sanford C. Bernstein downgraded shares of Revvity (NYSE:RVTY - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning, MarketBeat reports. They currently have $130.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Raymond James upped their price target on shares of Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Leerink Partners lifted their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.93.

Revvity Price Performance

NYSE RVTY traded down $2.56 during trading on Friday, hitting $113.86. 641,153 shares of the stock traded hands, compared to its average volume of 677,542. The firm has a 50-day simple moving average of $115.53 and a 200-day simple moving average of $116.86. Revvity has a 12-month low of $97.32 and a 12-month high of $129.50. The company has a market capitalization of $13.86 billion, a P/E ratio of 55.00, a price-to-earnings-growth ratio of 3.56 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.15. The firm 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 firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 EPS. As a group, analysts predict that Revvity will post 4.85 EPS for the current year.

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

Revvity Announces Dividend

The business 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity's payout ratio is currently 13.53%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business'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 sale, the insider now directly owns 19,652 shares of the company's stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RVTY. Empirical Finance LLC grew its holdings in shares of Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company's stock worth $541,000 after buying an additional 85 shares in the last quarter. CX Institutional grew its position in shares of Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company's stock valued at $1,020,000 after purchasing an additional 86 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after buying an additional 100 shares in the last quarter. Garrison Asset Management LLC boosted its stake in Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company's stock worth $2,236,000 after buying an additional 103 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Revvity by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company's stock worth $286,000 after buying an additional 110 shares during the last quarter. 86.65% of the stock is currently 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.