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

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred 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 directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Revvity Stock Down 0.2 %

NYSE RVTY traded down $0.22 on Wednesday, hitting $116.38. 742,106 shares of the stock traded hands, compared to its average volume of 678,954. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $115.64 and a 200 day moving average of $116.87. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a market capitalization of $14.16 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million for 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 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. As a group, analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given 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 is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Revvity declared that its Board of Directors has initiated a share buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have commented on RVTY shares. Sanford C. Bernstein cut their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Raymond James upped their price target on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Finally, Leerink Partners lifted their price target 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. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average price target of $133.00.

Institutional Trading of Revvity

Several hedge funds have recently made changes to their positions in RVTY. Janus Henderson Group PLC increased its holdings in shares of Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after acquiring an additional 108,401 shares during the period. State Street Corp boosted its position in Revvity by 0.3% during the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after acquiring an additional 17,832 shares during the period. Geode Capital Management LLC grew its stake in shares of Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after purchasing an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Revvity by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares in the last quarter. 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.