Revvity (NYSE:RVTY) Receives Outperform Rating from Raymond James

Raymond James restated their outperform rating on shares of Revvity (NYSE:RVTY - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $145.00 price objective on the stock, up from their previous price objective of $140.00.

Several other analysts also recently commented on RVTY. Robert W. Baird upped 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. Sanford C. Bernstein cut Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. 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 research report on Thursday, October 17th. TD Cowen upped their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

Revvity Stock Performance

RVTY traded down $3.20 on Monday, reaching $119.17. The company had a trading volume of 942,985 shares, compared to its average volume of 903,543. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity has a 1 year low of $97.32 and a 1 year high of $129.50. The stock has a market capitalization of $14.50 billion, a PE ratio of 53.92, a P/E/G ratio of 4.17 and a beta of 1.03. The stock has a 50-day moving average price of $117.35 and a 200-day moving average price of $119.03.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $1.25 earnings per share. As a group, research analysts forecast that Revvity will post 4.97 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's payout ratio is currently 12.67%.

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

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction 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 sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the business's 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 completion of the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at approximately $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. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Revvity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVTY. Assetmark Inc. lifted its stake in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the period. Gladius Capital Management LP acquired a new position in Revvity in the third quarter valued at $32,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after buying an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after buying an additional 138 shares during the last quarter. Finally, Avior Wealth Management LLC increased 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 acquiring an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

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.