Revvity (NYSE:RVTY) Upgraded at Cfra

Cfra upgraded shares of Revvity (NYSE:RVTY) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.

A number of other research firms have also recently commented on RVTY. UBS Group started coverage on Revvity in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $140.00 target price for the company. Zacks Research upgraded Revvity from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. TD Cowen upped their price target on Revvity from $130.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. Evercore reiterated an “outperform” rating on shares of Revvity in a report on Wednesday, August 5th. Finally, KeyCorp raised their price objective on Revvity from $125.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Six research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.86.

Revvity Trading Up 3.0%

RVTY stock traded up $4.49 during trading on Wednesday, reaching $155.32. The company had a trading volume of 1,683,252 shares, compared to its average volume of 1,785,214. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.80 and a quick ratio of 1.50. Revvity has a 52 week low of $81.22 and a 52 week high of $171.74. The business has a 50 day moving average of $147.60 and a 200 day moving average of $113.25. The company has a market cap of $17.33 billion, a P/E ratio of 68.73, a PEG ratio of 2.76 and a beta of 1.08.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The business had revenue of $728.90 million for the quarter, compared to analysts’ expectations of $694.73 million. During the same period in the previous year, the firm posted $1.18 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Revvity will post 5.42 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Friday, January 22nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. Revvity’s dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling

In other news, insider Tajinder Vohra sold 7,330 shares of Revvity stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the completion of the transaction, the insider directly owned 6,635 shares in the company, valued at approximately $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maxwell Krakowiak sold 1,631 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 14,781 shares in the company, valued at approximately $2,136,297.93. This represents a 9.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,045 shares of company stock valued at $1,281,439 in the last ninety days. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Revvity in the second quarter worth $3,845,000. The Manufacturers Life Insurance Company increased its holdings in shares of Revvity by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 368,938 shares of the company’s stock valued at $41,048,000 after acquiring an additional 20,278 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Revvity by 10,653.8% in the 2nd quarter. Wellington Management Group LLP now owns 865,575 shares of the company’s stock worth $96,304,000 after purchasing an additional 857,526 shares during the last quarter. State Street Corp raised its position in shares of Revvity by 0.8% in the 2nd quarter. State Street Corp now owns 4,342,739 shares of the company’s stock worth $483,173,000 after purchasing an additional 32,426 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Revvity in the 2nd quarter worth about $4,791,000. Institutional investors own 86.65% of the company’s stock.

About Revvity

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.