Revvity (NYSE:RVTY) Price Target Cut to $135.00 by Analysts at Barclays

Revvity (NYSE:RVTY) had its target price cut by equities research analysts at Barclays from $140.00 to $135.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 18.39% from the company’s current price.

A number of other research analysts have also commented on the stock. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Leerink Partners boosted their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Robert W. Baird boosted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.73.

Revvity Stock Up 1.8 %

Shares of NYSE RVTY traded up $2.00 during midday trading on Monday, hitting $114.03. The company’s stock had a trading volume of 42,637 shares, compared to its average volume of 837,508. Revvity has a 1 year low of $86.30 and a 1 year high of $129.50. The business’s fifty day simple moving average is $120.53 and its two-hundred day simple moving average is $115.74. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the business earned $1.18 EPS. Revvity’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Revvity will post 4.85 EPS for the current year.

Revvity announced that its board has authorized a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were 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 of the company’s stock, valued at approximately $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. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC purchased a new position in shares of Revvity during the second quarter valued at $25,000. Gladius Capital Management LP bought a new stake in shares of Revvity during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC lifted its position in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after acquiring an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in shares of Revvity in the second quarter worth about $43,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the 2nd quarter worth about $43,000. 86.65% of the stock is currently owned by institutional investors.

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.