Revvity (NYSE:RVTY) Upgraded at Bank of America

Bank of America upgraded shares of Revvity (NYSE:RVTY) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat.com reports. The firm currently has $138.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company started coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Leerink Partners lifted 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. Robert W. Baird increased their price objective on shares of 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 objective 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. Finally, TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and an average target price of $132.47.

Revvity Trading Down 0.1 %

Shares of RVTY stock opened at $115.94 on Friday. Revvity has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a 50 day moving average price of $118.09 and a 200 day moving average price of $116.39. The stock has a market capitalization of $14.11 billion, a P/E ratio of 56.01, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business 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%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Equities research analysts predict that Revvity will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.07 dividend. 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 payout ratio is 13.53%.

Revvity declared that its board has initiated a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revvity

A number of hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in shares of Revvity during the 2nd quarter worth $25,000. Gladius Capital Management LP acquired a new stake in shares of Revvity in the third quarter valued at about $32,000. EverSource Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Family Firm Inc. acquired a new position in Revvity during the second quarter worth about $43,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Revvity in the second quarter valued at about $43,000. 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.