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

Revvity (NYSE:RVTY) had its target price reduced by equities researchers at Barclays from $140.00 to $135.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 17.25% from the stock’s previous close.

Several other equities research analysts also recently commented on RVTY. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Bank of America increased their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Citigroup increased their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Raymond James increased their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.73.

Revvity Trading Up 0.4 %

NYSE:RVTY opened at $115.14 on Monday. Revvity has a twelve month low of $86.30 and a twelve month high of $129.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $120.22 and a two-hundred day moving average price of $115.89. The company has a market cap of $14.01 billion, a P/E ratio of 55.62, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05.

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 firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Revvity will post 4.85 EPS for the current fiscal year.

Revvity declared that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in shares of Revvity in the second quarter worth $25,000. Gladius Capital Management LP bought a new position in shares of Revvity in the third quarter worth $32,000. Continuum Advisory LLC increased its position in shares of Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the period. Institutional investors own 86.65% of the company’s stock.

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.