Revvity (NYSE:RVTY) Shares Gap Up – Should You Buy?

Revvity, Inc. (NYSE:RVTY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $113.88, but opened at $118.34. Revvity shares last traded at $120.18, with a volume of 109,062 shares traded.

Analyst Upgrades and Downgrades

RVTY has been the topic of a number of research reports. Raymond James raised their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Barclays reduced their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and an average price target of $131.93.

Revvity Trading Down 1.8 %

The company has a market capitalization of $14.67 billion, a price-to-earnings ratio of 58.21, a P/E/G ratio of 3.56 and a beta of 1.03. 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 company’s 50 day simple moving average is $115.23 and its two-hundred day simple moving average is $117.31.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. As a group, research analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is 13.53%.

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

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction 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 completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revvity

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new stake in shares of Revvity during the third quarter worth $32,000. EverSource Wealth Advisors LLC lifted its stake in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after buying an additional 167 shares during the period. Continuum Advisory LLC lifted its stake in shares of Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares during the period. Avior Wealth Management LLC lifted its position in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares during the period. Finally, Eastern Bank acquired a new position in Revvity during the third quarter valued at $80,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.