Revvity (NYSE:RVTY) Reaches New 12-Month High Following Earnings Beat

Revvity Inc. (NYSE:RVTY) shares reached a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $171.74 and last traded at $169.2270, with a volume of 581,300 shares traded. The stock had previously closed at $151.60.

The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.08. The firm had revenue of $728.90 million for the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.18 EPS.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, January 22nd. Revvity’s payout ratio is presently 13.33%.

Analyst Ratings Changes

RVTY has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Revvity from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. William Blair started coverage on shares of Revvity in a research note on Monday, October 5th. They issued an “outperform” rating for the company. Evercore reissued an “outperform” rating on shares of Revvity in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Revvity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, KeyCorp lifted their price target on shares of Revvity from $125.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Revvity has a consensus rating of “Hold” and a consensus target price of $124.43.

Insiders Place Their Bets

In other news, insider Tajinder Vohra sold 7,330 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the sale, the insider directly owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. This represents a 52.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maxwell Krakowiak sold 1,631 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the transaction, the insider owned 14,781 shares in the company, valued at $2,136,297.93. The trade was a 9.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,045 shares of company stock valued at $1,281,439. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of large investors have recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. increased its stake in shares of Revvity by 3.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company’s stock valued at $771,044,000 after purchasing an additional 265,204 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Revvity during the 2nd quarter worth $961,017,000. Janus Henderson Group PLC lifted its position in shares of Revvity by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company’s stock worth $731,386,000 after buying an additional 186,956 shares during the last quarter. BlackRock Inc. acquired a new stake in Revvity in the second quarter valued at about $852,070,000. Finally, State Street Corp boosted its stake in Revvity by 0.8% in the second quarter. State Street Corp now owns 4,342,739 shares of the company’s stock valued at $483,173,000 after buying an additional 32,426 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.80 and a quick ratio of 1.50. The stock has a 50-day simple moving average of $145.08 and a 200-day simple moving average of $112.36. The stock has a market cap of $18.82 billion, a P/E ratio of 80.30, a PEG ratio of 3.01 and a beta of 1.06.

Revvity Company Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.