Revvity (NYSE:RVTY) Price Target Raised to $140.00

Revvity (NYSE:RVTY) had its target price hoisted by Barclays from $135.00 to $140.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on RVTY. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. TD Cowen upped their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Raymond James reissued an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Leerink Partners lifted their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Price Performance

RVTY opened at $123.66 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The company’s 50 day simple moving average is $116.88 and its 200-day simple moving average is $118.80. Revvity has a one year low of $97.32 and a one year high of $129.50. The stock has a market capitalization of $15.05 billion, a P/E ratio of 55.96, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last issued its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter in the previous year, the business posted $1.25 earnings per share. Sell-side analysts anticipate that Revvity will post 4.97 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s payout ratio is 12.67%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revvity

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new position in shares of Revvity in the third quarter valued at about $32,000. Continuum Advisory LLC boosted its position in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the period. Avior Wealth Management LLC raised its position in shares of Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock valued at $67,000 after purchasing an additional 212 shares in the last quarter. 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.