Revvity, Inc. (NYSE:RVTY) Insider Sells $641,520.52 in Stock

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

Revvity Price Performance

NYSE:RVTY opened at $113.86 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $115.38 and its two-hundred day simple moving average is $116.91. The stock has a market cap of $13.86 billion, a PE ratio of 55.00, a P/E/G ratio of 3.56 and a beta of 1.03. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period last year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Revvity, Inc. will post 4.85 EPS 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 outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is 13.53%.

Institutional Investors Weigh In On Revvity

Large investors have recently made changes to their positions in the company. Empirical Finance LLC increased its stake in Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after acquiring an additional 85 shares during the last quarter. CX Institutional increased its stake in Revvity by 1.1% during the third quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after acquiring an additional 86 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after acquiring an additional 100 shares during the last quarter. Garrison Asset Management LLC increased its stake in 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 during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Revvity by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after acquiring an additional 110 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on RVTY. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research note on Friday. 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. Raymond James raised their price target on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays dropped their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.93.

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.