Revvity, Inc. (NYSE:RVTY) Receives $131.73 Consensus Price Target from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, nine have assigned 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 a report on the stock in the last year is $131.73.

Several equities research analysts have recently weighed in on RVTY shares. Raymond James upped their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Sanford C. Bernstein decreased 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. Barclays dropped their price objective on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock.

Revvity Stock Up 1.0 %

NYSE RVTY opened at $116.23 on Tuesday. Revvity has a 1-year low of $86.30 and a 1-year 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 stock’s 50 day moving average is $119.84 and its two-hundred day moving average is $115.89. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.86 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating 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 business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the previous year, the firm earned $1.18 EPS. Revvity’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Revvity will post 4.85 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has initiated a stock 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 buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

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

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in Revvity during the second quarter worth about $25,000. Gladius Capital Management LP acquired a new stake in shares of Revvity in the 3rd quarter valued at approximately $32,000. Continuum Advisory LLC boosted its stake in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.