Barclays Cuts Revvity (NYSE:RVTY) Price Target to $135.00

Revvity (NYSE:RVTY) had its price target reduced by Barclays from $140.00 to $135.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently issued reports on RVTY. Sanford C. Bernstein cut their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America raised their price objective on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average target price of $131.73.

Revvity Trading Up 1.0 %

Shares of Revvity stock opened at $116.23 on Monday. The stock has a 50 day moving average of $120.05 and a 200 day moving average of $115.89. 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 firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.86 and a beta of 1.05. Revvity has a fifty-two week low of $86.30 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the business posted $1.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Revvity will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s payout ratio is currently 13.53%.

Revvity announced that its board has authorized a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revvity

Several hedge funds have recently made changes to their positions in RVTY. Empirical Finance LLC increased its position in Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after buying an additional 85 shares during the period. CX Institutional increased its holdings in shares of Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after acquiring an additional 86 shares during the period. Garrison Asset Management LLC raised its position in Revvity by 0.5% in the 2nd quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after purchasing an additional 103 shares during the last quarter. TriaGen Wealth Management LLC raised its position in Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after purchasing an additional 107 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Revvity by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.