Revvity’s (RVTY) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of Revvity (NYSE:RVTY) in a report issued on Monday,Benzinga reports. They currently have a $145.00 price target on the stock, up from their prior price target of $140.00.

A number of other equities research analysts also recently commented on the company. KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays cut 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. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Finally, TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Trading Down 0.6 %

Shares of RVTY opened at $122.47 on Monday. The firm has a market cap of $14.90 billion, a P/E ratio of 55.42, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity has a 1 year low of $97.32 and a 1 year high of $129.50. The company has a 50 day simple moving average of $117.22 and a two-hundred day simple moving average of $119.00.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities analysts expect that Revvity will post 4.97 earnings per share for the current fiscal year.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s payout ratio is 12.67%.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction 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 represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Revvity in the 3rd quarter worth approximately $32,000. Continuum Advisory LLC raised its stake in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after buying an additional 138 shares during the period. Avior Wealth Management LLC boosted its position in Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Revvity by 54.9% in the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock valued at $67,000 after acquiring an additional 212 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.