Revvity (NYSE:RVTY) Price Target Cut to $140.00 by Analysts at Raymond James

Revvity (NYSE:RVTY) had its target price decreased by Raymond James from $146.00 to $140.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on RVTY. Robert W. Baird boosted their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays decreased their price objective on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Finally, TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Revvity Stock Performance

RVTY stock opened at $123.97 on Tuesday. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 59.89, a PEG ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity has a twelve month low of $97.32 and a twelve month high of $129.50. The business’s fifty day simple moving average is $114.89 and its two-hundred day simple moving average is $117.77.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Analysts predict that Revvity will post 4.84 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

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

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were 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. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of hedge funds have recently bought and sold shares of the stock. Empirical Finance LLC raised its stake in Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after acquiring an additional 85 shares in the last quarter. CX Institutional boosted its stake in Revvity by 1.1% during the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after purchasing an additional 86 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC increased its stake in Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after purchasing an additional 104 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in shares of Revvity by 0.8% during the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds 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.