Revvity, Inc. (NYSE:RVTY) Insider Tajinder S. Vohra Sells 5,492 Shares

Revvity, Inc. (NYSE:RVTY - Get Free Report) insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Revvity Stock Performance

Revvity stock traded down $0.22 during midday trading on Wednesday, reaching $116.38. 770,367 shares of the stock traded hands, compared to its average volume of 684,833. The firm has a fifty day moving average price of $115.57 and a two-hundred day moving average price of $116.86. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.59 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. On average, equities research analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current year.

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

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

Hedge Funds Weigh In On Revvity

Several large investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in shares of Revvity by 8.0% during the 4th quarter. Nordea Investment Management AB now owns 9,681 shares of the company's stock valued at $1,084,000 after purchasing an additional 719 shares during the period. GAMMA Investing LLC boosted its stake in Revvity by 10.8% during the fourth quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock valued at $212,000 after buying an additional 185 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Revvity by 13.7% during the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after acquiring an additional 41,497 shares during the period. Principal Financial Group Inc. raised its position in Revvity by 3.1% in the third quarter. Principal Financial Group Inc. now owns 141,871 shares of the company's stock worth $18,124,000 after acquiring an additional 4,263 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Revvity by 2,388.8% in the 3rd quarter. Tidal Investments LLC now owns 52,787 shares of the company's stock valued at $6,744,000 after acquiring an additional 50,666 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research analyst reports. Leerink Partners increased their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Robert W. Baird lifted 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. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Finally, Sanford C. Bernstein dropped their price target on Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Five 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. According to data from MarketBeat.com, Revvity currently has an average rating of "Moderate Buy" and a consensus target price of $133.00.

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.