Analysts Set Revvity, Inc. (NYSE:RVTY) PT at $132.47

Revvity, Inc. (NYSE:RVTY) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $132.47.

RVTY has been the topic of a number of analyst reports. Sanford C. Bernstein dropped their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Leerink Partners boosted their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird raised their price objective on 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 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, Barclays cut 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.

Revvity Trading Up 0.1 %

Shares of RVTY opened at $112.34 on Friday. The stock’s fifty day simple moving average is $116.73 and its 200 day simple moving average is $116.58. Revvity has a twelve month low of $97.32 and a twelve month high of $129.50. 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 firm has a market capitalization of $13.67 billion, a P/E ratio of 54.27, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

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

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity’s dividend payout ratio (DPR) is 13.53%.

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

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 8.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVTY. Rothschild Investment LLC acquired a new position in Revvity during the second quarter worth $25,000. Gladius Capital Management LP bought a new position in shares of Revvity in the 3rd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its holdings in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Family Firm Inc. acquired a new position in Revvity during the second quarter valued at approximately $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Revvity in the second quarter valued at approximately $43,000. Hedge funds and other 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.