Revvity (NYSE:RVTY) Board of Directors Authorizes Share Repurchase Program

Revvity (NYSE:RVTY) announced that its board has initiated a stock repurchase program on Monday, October 27th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on RVTY shares. Robert W. Baird set a $122.00 target price on Revvity in a research note on Friday. Evercore ISI reissued an “outperform” rating and set a $108.00 price objective on shares of Revvity in a research report on Monday. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Stifel Nicolaus dropped their price target on shares of Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Weiss Ratings cut shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.54.

Revvity Stock Performance

NYSE:RVTY opened at $97.11 on Tuesday. The company has a fifty day simple moving average of $89.53 and a two-hundred day simple moving average of $92.33. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. Revvity has a 52 week low of $81.36 and a 52 week high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, October 27th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business had revenue of $698.95 million during the quarter, compared to the consensus estimate of $699.75 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, equities analysts anticipate that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s payout ratio is currently 11.86%.

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.