Revvity, Inc. (NYSE:RVTY) Short Interest Update

Revvity, Inc. (NYSE:RVTY) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 3,600,000 shares, an increase of 33.8% from the March 31st total of 2,690,000 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 888,500 shares, the short-interest ratio is presently 4.1 days.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent analyst reports. KeyCorp raised their target price on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Stifel Nicolaus raised their target price on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. UBS Group cut shares of Revvity from a “buy” rating to a “neutral” rating and increased their price target for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. Barclays increased their price target on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $88.00 to $125.00 in a research report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Insider Activity at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC bought a new position in shares of Revvity in the fourth quarter worth $1,112,000. State of Michigan Retirement System bought a new position in shares of Revvity in the fourth quarter worth $3,688,000. Gulf International Bank UK Ltd bought a new position in shares of Revvity in the fourth quarter worth $1,136,000. State of Alaska Department of Revenue bought a new position in shares of Revvity in the fourth quarter worth $1,456,000. Finally, International Assets Investment Management LLC bought a new position in shares of Revvity in the fourth quarter worth $1,278,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

Shares of RVTY stock opened at $101.51 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $104.66 and a two-hundred day moving average of $101.40. Revvity has a 52 week low of $79.50 and a 52 week high of $132.54. The company has a market cap of $12.54 billion, a P/E ratio of 18.46, a PEG ratio of 2.64 and a beta of 1.09.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $695.90 million during the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. As a group, analysts anticipate that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. Revvity’s payout ratio is currently 5.09%.

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.