Brokerages Set Revvity, Inc. (NYSE:RVTY) Price Target at $131.93

Shares of Revvity, Inc. (NYSE:RVTY) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $132.46.

Several brokerages have weighed in 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, January 10th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, December 13th. TD Cowen upped their price objective 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. Leerink Partners lifted their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James increased their price target on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s 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 completion of the transaction, the insider now owns 19,652 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RVTY. 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 raised its holdings in Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after buying an additional 86 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC grew its stake in Revvity by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after buying an additional 104 shares during the period. Finally, Westside Investment Management Inc. increased its position in shares of Revvity by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after acquiring an additional 108 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of Revvity stock opened at $118.29 on Wednesday. The firm’s fifty day simple moving average is $114.94 and its 200-day simple moving average is $117.66. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 3.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

Revvity (NYSE:RVTY) last announced its 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 net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the company earned $1.18 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Revvity will post 4.84 earnings per share for the current year.

Revvity declared that its Board of Directors has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often 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. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

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.