Revvity (NYSE:RVTY) Price Target Raised to $145.00 at KeyCorp

Revvity (NYSE:RVTY) had its price target hoisted by stock analysts at KeyCorp from $132.00 to $145.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 17.73% from the company’s current price.

Other analysts have also issued reports about the company. Barclays decreased their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Sanford C. Bernstein downgraded 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. Raymond James dropped their price objective on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. 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. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Stock Performance

Shares of Revvity stock opened at $123.16 on Monday. The business has a 50-day simple moving average of $117.06 and a 200 day simple moving average of $118.90. Revvity has a one year low of $97.32 and a one year high of $129.50. 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 firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of 55.73, a PEG ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (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 period in the prior year, the company posted $1.25 earnings per share. On average, research analysts anticipate that Revvity will post 4.97 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Revvity by 13.7% during the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock valued at $43,961,000 after buying an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after acquiring an additional 65,376 shares during the period. Bretton Capital Management LLC bought a new position in Revvity during the 3rd quarter worth approximately $1,405,000. FMR LLC increased its stake in Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after purchasing an additional 34,428 shares during the last quarter. 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.