Revvity, Inc. (NYSE:RVTY) Insider Tajinder S. Vohra Sells 5,492 Shares

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Revvity Price Performance

Shares of RVTY opened at $116.38 on Thursday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $115.57 and its 200-day simple moving average is $116.86. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Revvity’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

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 issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio is currently 13.53%.

Hedge Funds Weigh In On Revvity

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVTY. Bretton Capital Management LLC acquired a new stake in Revvity in the third quarter valued at $1,405,000. JPMorgan Chase & Co. boosted its position in shares of Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after buying an additional 41,497 shares in the last quarter. FMR LLC grew its stake in Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after acquiring an additional 45,040 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Revvity by 942.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after acquiring an additional 34,428 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Revvity by 12,674.8% in the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock valued at $1,746,000 after purchasing an additional 13,562 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RVTY shares. Raymond James increased their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays decreased their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Sanford C. Bernstein decreased their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Five 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

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.