Revvity (NYSE:RVTY) Lowered to Market Perform Rating by Sanford C. Bernstein

Sanford C. Bernstein cut shares of Revvity (NYSE:RVTY) from an outperform rating to a market perform rating in a research note published on Friday, Marketbeat reports. Sanford C. Bernstein currently has $130.00 target price on the stock.

A number of other equities research analysts also recently commented on the company. Robert W. Baird lifted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Raymond James lifted their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Cowen increased their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Revvity Price Performance

NYSE:RVTY opened at $113.86 on Friday. Revvity has a 12-month low of $97.32 and a 12-month high of $129.50. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 55.00, a price-to-earnings-growth ratio of 3.56 and a beta of 1.03. The company’s 50-day moving average is $115.38 and its two-hundred day moving average is $116.91. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced 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. The business had revenue of $684.10 million for 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%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Research analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Revvity Dividend Announcement

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

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s 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 completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

A number of institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of Revvity during the third quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its stake in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new stake in Revvity during the 2nd quarter worth approximately $43,000. Continuum Advisory LLC raised its position in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.