Joel S. Goldberg Sells 15,170 Shares of Revvity, Inc. (NYSE:RVTY) Stock

Revvity, Inc. (NYSE:RVTY) insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Revvity Stock Performance

Shares of NYSE RVTY opened at $126.13 on Friday. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The business’s 50-day moving average price is $116.88 and its two-hundred day moving average price is $118.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The company has a market capitalization of $15.35 billion, a P/E ratio of 60.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.42% and a net margin of 9.34%. During the same period in the prior year, the company earned $1.25 EPS. Analysts anticipate that Revvity, Inc. will post 4.84 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. Revvity’s dividend payout ratio is currently 13.53%.

Revvity announced 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 shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Revvity

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after purchasing an additional 65,376 shares during the period. Bretton Capital Management LLC bought a new stake in Revvity during the third quarter worth approximately $1,405,000. FMR LLC grew its holdings in Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after purchasing an additional 34,428 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RVTY shares. Raymond James dropped their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Leerink Partners boosted 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. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.00.

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.