Revvity Inc. (RVTY) looking to reclaim success with recent performance

Revvity Inc. (NYSE: RVTY) stock jumped 0.71% on Thursday to $112.71 against a previous-day closing price of $111.92. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.76 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $113.51 whereas the lowest price it dropped to was $111.47. The 52-week range on RVTY shows that it touched its highest point at $150.17 and its lowest point at $105.82 during that stretch. It currently has a 1-year price target of $144.52. With its current market cap of 14.43 billion, RVTY has annualized dividend of $0.28 while the current yield stands at 0.25%. Beta for the stock currently stands at 1.08.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RVTY was up-trending over the past week, with a rise of 2.26%, but this was down by -3.75% over a month. Three-month performance dropped to -2.33% while six-month performance fell -8.02%. The stock lost -15.07% in the past year, while it has lost -19.62% so far this year. A look at the trailing 12-month EPS for RVTY yields 1.98 with Next year EPS estimates of 5.57. For the next quarter, that number is 1.20. This implies an EPS growth rate of -46.80% for this year and 15.88% for next year. EPS is expected to decline by -4.61% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.30%.

Float and Shares Shorts:

At present, 125.22 million RVTY shares are outstanding with a float of 123.79 million shares on hand for trading. On Aug 14, 2023, short shares totaled 2.79 million, which was 2.24% higher than short shares on Jul 13, 2023. In addition to Dr. Prahlad R. Singh Ph.D. as the firm’s CEO, Pres & Director, Mr. Maxwell Krakowiak serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 87.56% of RVTY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.83% of RVTY, in contrast to 30.86% held by mutual funds. Shares owned by individuals account for 2.26%. As the largest shareholder in RVTY with 11.17% of the stake, The Vanguard Group, Inc. holds 14,004,872 shares worth 14,004,872. A second-largest stockholder of RVTY, T. Rowe Price Investment Manageme, holds 12,718,268 shares, controlling over 10.14% of the firm’s shares. Select Equity Group LP is the third largest shareholder in RVTY, holding 11,355,727 shares or 9.05% stake. With a 6.44% stake in RVTY, the T Rowe Price Capital Appreciation is the largest stakeholder. A total of 8,071,995 shares are owned by the mutual fund manager. The American Funds AMCAP Fund, which owns about 3.48% of RVTY stock, is the second-largest Mutual Fund holder. It holds 4,366,099 shares valued at 536.81 million. Vanguard Total Stock Market ETF holds 3.10% of the stake in RVTY, owning 3,891,848 shares worth 478.5 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, RVTY reported revenue of $1.23B and operating income of $262.79M. The EBITDA in the recently reported quarter was $380.02M and diluted EPS was $1.42.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RVTY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RVTY analysts setting a high price target of $170.00 and a low target of $125.00, the average target price over the next 12 months is $141.73. Based on these targets, RVTY could surge 50.83% to reach the target high and rise by 10.9% to reach the target low. Reaching the average price target will result in a growth of 25.75% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded RVTY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 190,572 while 121,724 shares were sold.

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