Revvity, Inc. (NYSE:RVTY) Receives $128.79 Consensus Target Price from Brokerages

Shares of Revvity, Inc. (NYSE:RVTY) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Seven equities research 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 company. The average 1-year price objective among brokers that have covered the stock in the last year is $132.07.

RVTY has been the topic of a number of research reports. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James increased their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company started coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Finally, Sanford C. Bernstein cut their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday.

Revvity Price Performance

Shares of RVTY stock opened at $125.96 on Friday. The business has a fifty day simple moving average of $121.53 and a 200 day simple moving average of $114.47. The company has a market cap of $15.54 billion, a P/E ratio of 91.28, a P/E/G ratio of 3.34 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Revvity has a twelve month low of $82.17 and a twelve month high of $128.83.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, sell-side analysts forecast that Revvity will post 4.75 EPS for the current fiscal year.

Revvity announced that its board has approved a stock buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is currently 20.29%.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revvity

Several large investors have recently added to or reduced their stakes in RVTY. CX Institutional lifted its holdings in Revvity by 1.1% during the third quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after purchasing an additional 86 shares during the last quarter. Garrison Asset Management LLC lifted its position in shares of Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after acquiring an additional 103 shares in the last quarter. TriaGen Wealth Management LLC boosted its holdings in shares of Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after acquiring an additional 107 shares during the period. Guinness Asset Management LTD grew its position in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after purchasing an additional 116 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.