Share Buyback Program Announced by Revvity (NYSE:RVTY) Board of Directors

Revvity (NYSE:RVTY) declared that its board has initiated a share repurchase plan on Monday, October 27th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Revvity Price Performance

NYSE RVTY opened at $95.17 on Thursday. The business has a 50 day simple moving average of $89.70 and a 200 day simple moving average of $92.36. Revvity has a 52-week low of $81.36 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.75 and a current ratio of 1.75. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 3.19 and a beta of 0.98.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The business had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $699.75 million. During the same period in the prior year, the business earned $1.28 EPS. Revvity’s revenue for the quarter was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Analysts anticipate that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 16th. Revvity’s dividend payout ratio is presently 11.86%.

Analysts Set New Price Targets

RVTY has been the topic of a number of research reports. Bank of America cut their target price on shares of Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Guggenheim initiated coverage on shares of Revvity in a research report on Wednesday, October 15th. They set a “neutral” rating on the stock. Raymond James Financial restated an “outperform” rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Stifel Nicolaus cut their target price on shares of Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. Finally, Barclays upped their target price on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.00.

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.