Revvity (NYSE:RVTY) Given New $138.00 Price Target at Robert W. Baird

Revvity (NYSE:RVTY) had its price target boosted by equities researchers at Robert W. Baird from $136.00 to $138.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 10.52% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. TD Cowen raised their price objective on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Leerink Partnrs raised Revvity to a “strong-buy” rating in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Revvity Trading Down 0.9 %

Shares of RVTY stock opened at $124.86 on Tuesday. The stock has a market capitalization of $15.40 billion, a PE ratio of 90.48, a P/E/G ratio of 3.34 and a beta of 1.05. Revvity has a 1-year low of $82.17 and a 1-year high of $129.50. The business has a 50-day moving average of $121.60 and a 200 day moving average of $114.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98.

Revvity (NYSE:RVTY) last issued its earnings results 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 company had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. Revvity’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. As a group, sell-side analysts anticipate that Revvity will post 4.75 earnings per share for the current year.

Revvity announced that its board has approved a share repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RVTY. Rothschild Investment LLC bought a new position in Revvity in the second quarter worth approximately $25,000. Gladius Capital Management LP bought a new position in Revvity in the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its stake in 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 in the last quarter. Family Firm Inc. bought a new position in Revvity in the second quarter worth approximately $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in Revvity in the second quarter worth approximately $43,000. 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.