Revvity (NYSE:RVTY) Given New $145.00 Price Target at KeyCorp

Revvity (NYSE:RVTY) had its price objective increased by KeyCorp from $132.00 to $145.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RVTY has been the topic of several other reports. 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 report on Friday, January 10th. Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays reduced their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. TD Cowen boosted their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Raymond James lowered their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Performance

Shares of NYSE:RVTY opened at $123.66 on Monday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity has a 1-year low of $97.32 and a 1-year high of $129.50. The stock has a market capitalization of $15.05 billion, a P/E ratio of 55.96, a P/E/G ratio of 4.17 and a beta of 1.03. The business has a 50-day moving average price of $116.88 and a two-hundred day moving average price of $118.80.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $1.25 EPS. Equities analysts predict that Revvity will post 4.97 earnings per share for the current year.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

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

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The transaction 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 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 transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RVTY. JPMorgan Chase & Co. raised its position in shares of Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after acquiring an additional 65,376 shares in the last quarter. Bretton Capital Management LLC purchased a new position in shares of Revvity during the third quarter valued at approximately $1,405,000. FMR LLC grew its stake in shares of 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 buying an additional 45,040 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock worth $4,865,000 after acquiring an additional 34,428 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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.