Revvity (NYSE:RVTY) Given Outperform Rating at Raymond James

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

Other equities research analysts have also issued research reports about the company. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. KeyCorp boosted their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays decreased their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. TD Cowen boosted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.25.

Revvity Trading Down 0.6 %

NYSE:RVTY opened at $122.47 on Monday. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 55.42, a PEG ratio of 4.17 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 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $117.22 and a 200 day moving average of $119.00.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS 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 quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Revvity will post 4.97 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

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

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated 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. This represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The shares were 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 owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revvity

A number of hedge funds have recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. raised its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after buying an additional 690,534 shares during the period. Southpoint Capital Advisors LP purchased a new stake in Revvity in the 3rd quarter worth $25,550,000. Proficio Capital Partners LLC raised its position in Revvity by 12,298.3% during the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock worth $21,850,000 after acquiring an additional 194,190 shares during the period. Janus Henderson Group PLC lifted its holdings in Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after purchasing an additional 92,240 shares during the period. 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.