Analysts Set Revvity, Inc. (NYSE:RVTY) PT at $131.93

Revvity, Inc. (NYSE:RVTY) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. Five investment 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 12-month price target among brokers that have covered the stock in the last year is $132.00.

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays dropped their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Raymond James reduced their price objective on Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday. TD Cowen lifted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s 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 transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Revvity

A number of large investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. purchased a new stake in shares of Revvity in the second quarter valued at approximately $209,221,000. Southpoint Capital Advisors LP purchased a new stake in shares of Revvity in the 3rd quarter worth $25,550,000. Janus Henderson Group PLC grew its position in shares of 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 buying an additional 108,401 shares in the last quarter. Holocene Advisors LP increased its stake in shares of Revvity by 14.6% during the third 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. raised its holdings in shares of Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after acquiring an additional 65,376 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

Revvity stock opened at $123.97 on Wednesday. Revvity has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock’s 50 day simple moving average is $114.89 and its two-hundred day simple moving average is $117.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 59.89, a PEG ratio of 3.50 and a beta of 1.03.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping 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 company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Revvity will post 4.84 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has approved a share buyback program 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 programs are generally an indication that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is 13.53%.

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.