Revvity (NYSE:RVTY) Shares Gap Up – Should You Buy?

Shares of Revvity, Inc. (NYSE:RVTY) gapped up prior to trading on Monday . The stock had previously closed at $113.88, but opened at $118.34. Revvity shares last traded at $120.18, with a volume of 109,062 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen boosted 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. 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 report on Tuesday, November 5th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Barclays lowered their price target 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. Finally, Leerink Partners increased their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and an average price target of $131.93.

Revvity Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The stock has a 50-day moving average price of $115.23 and a two-hundred day moving average price of $117.31. The stock has a market cap of $14.67 billion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 3.56 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is 13.53%.

Revvity declared that its Board of Directors has approved a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Trading of Revvity

Several institutional investors have recently added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. bought a new stake in Revvity in the second quarter worth about $209,221,000. Southpoint Capital Advisors LP bought a new stake in Revvity in the third quarter worth about $25,550,000. Janus Henderson Group PLC lifted its stake in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares during the last quarter. Holocene Advisors LP lifted its stake in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after purchasing an additional 92,240 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after purchasing an additional 65,376 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

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.