Revvity, Inc. (NYSE:RVTY) Insider Joel S. Goldberg Sells 15,170 Shares

Revvity, Inc. (NYSE:RVTY) insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % 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 Revvity stock opened at $126.13 on Friday. 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 stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 60.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a 50-day simple moving average of $116.60 and a two-hundred day simple moving average of $118.60.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.34% and a return on equity of 7.42%. During the same period in the prior year, the business earned $1.25 earnings per share. Analysts forecast that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity declared that its board has approved a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Institutional Investors Weigh In On Revvity

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares during the period. State Street Corp increased its stake in Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares during the last quarter. Geode Capital Management LLC raised its position in Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC boosted its holdings in shares of Revvity by 3.2% in the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research note on Friday, December 13th. TD Cowen raised their target price 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. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Robert W. Baird lifted 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. Finally, Leerink Partners upped their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

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.