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

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 5,492 shares of Revvity 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 sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Revvity Price Performance

RVTY opened at $116.38 on Thursday. 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 moving average price is $115.57 and its 200 day moving average price is $116.86. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 56.22, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $679.66 million. During the same quarter last year, the business posted $1.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date 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 13.53%.

Revvity announced that its board has authorized a share repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on RVTY. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. 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 report on Monday, November 25th. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Leerink Partners upped 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. Finally, Sanford C. Bernstein dropped their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Hedge Funds Weigh In On Revvity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVTY. Janus Henderson Group PLC grew its stake in shares of Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares during the last quarter. State Street Corp increased its holdings in shares of Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after purchasing an additional 17,832 shares during the period. Geode Capital Management LLC lifted its position in Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after buying an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

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.