Revvity, Inc. (NYSE:RVTY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $132.46.

A number of analysts have commented on RVTY shares. 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 report on Tuesday, November 5th. TD Cowen raised their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Finally, Leerink Partners upped 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.

Revvity Stock Performance

Shares of RVTY stock opened at $118.29 on Wednesday. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 3.37 and a beta of 1.03. Revvity has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $114.94 and its 200 day moving average is $117.66.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. 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 company earned $1.18 earnings per share. On average, sell-side analysts anticipate that Revvity will post 4.84 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s payout ratio is 13.53%.

Revvity declared that its board has approved a share repurchase plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on 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 in the company, 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. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RVTY. EdgePoint Investment Group Inc. acquired a new position in shares of Revvity in the second quarter worth $209,221,000. Southpoint Capital Advisors LP purchased a new stake in Revvity during the 3rd quarter worth about $25,550,000. Janus Henderson Group PLC increased its holdings in Revvity by 1.7% during the 3rd 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 period. Holocene Advisors LP boosted its stake in shares of Revvity by 14.6% in the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after buying an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. grew its position in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares in 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.