Revvity (NYSE:RVTY) Shares Gap Up – Here’s Why

Revvity Inc. (NYSE:RVTY) gapped up prior to trading on Tuesday . The stock had previously closed at $103.89, but opened at $110.88. Revvity shares last traded at $111.8850, with a volume of 400,038 shares trading hands.

Analyst Ratings Changes

Several research firms have recently commented on RVTY. Bank of America downgraded shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th. Evercore ISI restated an “outperform” rating on shares of Revvity in a report on Monday, January 5th. Robert W. Baird lifted their target price on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group assumed coverage on Revvity in a research report on Tuesday, December 9th. They issued a “neutral” rating and a $105.00 price target for the company. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.91.

Revvity Stock Up 2.2%

The stock has a fifty day moving average of $98.31 and a 200 day moving average of $94.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 1.44. The firm has a market capitalization of $12.04 billion, a P/E ratio of 53.31, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $698.95 million during the quarter, compared to the consensus estimate of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, research analysts anticipate that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, January 16th. Revvity’s payout ratio is presently 14.07%.

Revvity declared that its board has approved a stock repurchase plan on Monday, October 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Byrne Asset Management LLC lifted its holdings in Revvity by 0.9% during the fourth quarter. Byrne Asset Management LLC now owns 11,138 shares of the company’s stock valued at $1,078,000 after purchasing an additional 100 shares during the last quarter. First National Advisers LLC lifted its stake in shares of Revvity by 0.8% during the 3rd quarter. First National Advisers LLC now owns 15,023 shares of the company’s stock valued at $1,317,000 after buying an additional 125 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Revvity by 1.7% in the 3rd quarter. Mackenzie Financial Corp now owns 8,955 shares of the company’s stock worth $785,000 after buying an additional 154 shares during the period. FWG Holdings LLC grew its stake in Revvity by 2.8% in the 3rd quarter. FWG Holdings LLC now owns 6,215 shares of the company’s stock valued at $592,000 after buying an additional 167 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in Revvity by 2.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 7,514 shares of the company’s stock valued at $685,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.