Raymond James Lowers Revvity (NYSE:RVTY) Price Target to $140.00

Revvity (NYSE:RVTY) had its price target reduced by analysts at Raymond James from $146.00 to $140.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 14.04% from the company’s previous close.

Other analysts have also issued research reports about the company. Robert W. Baird increased their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners raised 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. TD Cowen boosted their price objective 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. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Finally, 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 report on Friday, December 13th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Revvity Stock Performance

Shares of RVTY opened at $122.76 on Tuesday. Revvity has a 12-month low of $97.32 and a 12-month high of $129.50. The stock has a market cap of $14.94 billion, a P/E ratio of 59.31, a PEG ratio of 3.50 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $114.96 and a two-hundred day moving average of $117.91.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, research analysts predict that Revvity will post 4.84 EPS for the current fiscal year.

Revvity declared that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RVTY. Canada Pension Plan Investment Board increased its stake in Revvity by 46.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock worth $1,403,000 after buying an additional 4,246 shares during the period. AE Wealth Management LLC increased its position in shares of Revvity by 20.2% during the second quarter. AE Wealth Management LLC now owns 12,255 shares of the company’s stock worth $1,285,000 after acquiring an additional 2,061 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Revvity by 37.4% in the second quarter. Pacer Advisors Inc. now owns 11,720 shares of the company’s stock worth $1,229,000 after acquiring an additional 3,192 shares in the last quarter. Sei Investments Co. boosted its holdings in Revvity by 6.2% in the second quarter. Sei Investments Co. now owns 23,996 shares of the company’s stock valued at $2,516,000 after purchasing an additional 1,411 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Revvity by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 17,956 shares of the company’s stock valued at $1,883,000 after purchasing an additional 1,295 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.