Tajinder S. Vohra Sells 5,492 Shares of Revvity, Inc. (NYSE:RVTY) Stock

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Revvity Price Performance

Shares of RVTY traded down $0.22 during mid-day trading on Wednesday, reaching $116.38. 742,106 shares of the company’s stock were exchanged, compared to its average volume of 678,954. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.59 and a beta of 1.03. The company has a 50-day simple moving average of $115.64 and a two-hundred day simple moving average of $116.87.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, sell-side analysts predict that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Revvity

Hedge funds and other institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity in the second quarter worth approximately $209,221,000. Southpoint Capital Advisors LP purchased a new stake in shares of Revvity during the 3rd quarter valued at $25,550,000. Janus Henderson Group PLC grew its stake in shares of Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares during the period. Holocene Advisors LP increased its holdings in shares of Revvity by 14.6% during the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after buying an additional 92,240 shares during the last quarter. Finally, RGM Capital LLC raised its position in shares of Revvity by 6.7% in the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock worth $99,707,000 after buying an additional 59,994 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RVTY. Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Five investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.00.

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.