Revvity (NYSE:RVTY) Price Target Raised to $175.00

Revvity (NYSE:RVTY) had its target price lifted by Barclays from $160.00 to $175.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on RVTY. TD Cowen boosted their target price on Revvity from $130.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Cfra upgraded Revvity from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group started coverage on Revvity in a report on Wednesday, September 9th. They set a “neutral” rating and a $140.00 price objective for the company. Evercore reaffirmed an “outperform” rating on shares of Revvity in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their target price on Revvity from $135.00 to $172.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $133.86.

Revvity Stock Up 3.0%

Shares of NYSE:RVTY traded up $4.49 during trading on Wednesday, hitting $155.32. 1,683,252 shares of the company were exchanged, compared to its average volume of 1,785,214. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 68.73, a P/E/G ratio of 2.76 and a beta of 1.08. Revvity has a fifty-two week low of $81.22 and a fifty-two week high of $171.74. The firm has a fifty day moving average price of $147.60 and a two-hundred day moving average price of $113.25. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.30 by $0.08. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The company had revenue of $728.90 million during the quarter, compared to the consensus estimate of $694.73 million. During the same quarter in the prior year, the firm posted $1.18 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Revvity will post 5.42 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Friday, January 22nd will be paid a $0.07 dividend. The ex-dividend date is Friday, January 22nd. This represents a $0.28 annualized dividend and a yield of 0.2%. Revvity’s payout ratio is 12.39%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 7,330 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the transaction, the insider directly owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maxwell Krakowiak sold 1,631 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $144.53, for a total transaction of $235,728.43. Following the transaction, the insider directly owned 14,781 shares in the company, valued at $2,136,297.93. This represents a 9.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,045 shares of company stock valued at $1,281,439 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently made changes to their positions in RVTY. Jupiter Topco LLC bought a new stake in shares of Revvity in the second quarter valued at approximately $961,017,000. BlackRock Inc. bought a new position in Revvity during the 2nd quarter worth $852,070,000. EdgePoint Investment Group Inc. increased its stake in Revvity by 3.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company’s stock worth $771,044,000 after acquiring an additional 265,204 shares during the period. Janus Henderson Group PLC raised its holdings in Revvity by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company’s stock valued at $731,386,000 after acquiring an additional 186,956 shares in the last quarter. Finally, State Street Corp raised its holdings in Revvity by 0.8% in the 2nd quarter. State Street Corp now owns 4,342,739 shares of the company’s stock valued at $483,173,000 after acquiring an additional 32,426 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Company Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.