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 company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Revvity Trading Down 0.6 %

RVTY stock traded down $0.71 during midday trading on Friday, reaching $126.13. The company’s stock had a trading volume of 1,210,146 shares, compared to its average volume of 908,442. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a fifty day simple moving average of $116.60 and a two-hundred day simple moving average of $118.60. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 60.93, a PEG ratio of 4.09 and a beta of 1.03.

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

Revvity announced that its Board of Directors has authorized a share repurchase plan 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 plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Revvity Announces Dividend

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

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP acquired a new stake in Revvity in the third quarter worth about $32,000. Continuum Advisory LLC boosted its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Revvity by 54.9% in the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James reduced their price target on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Bank of America upgraded 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. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays cut their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

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.