Revvity (NYSE:RVTY) Given New $140.00 Price Target at Barclays

Revvity (NYSE:RVTY) had its price objective lifted by equities research analysts at Barclays from $135.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 11.72% from the company’s current price.

A number of other analysts have also weighed in on RVTY. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Leerink Partners raised their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird upped 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. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Raymond James reiterated an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Revvity Price Performance

Shares of RVTY stock traded down $0.82 during trading hours on Monday, hitting $125.32. 297,351 shares of the company’s stock were exchanged, compared to its average volume of 878,681. 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 12-month low of $97.32 and a 12-month high of $129.50. The business’s 50 day simple moving average is $116.88 and its 200-day simple moving average is $118.80. The company has a market capitalization of $15.25 billion, a PE ratio of 56.62, a PEG ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.25 earnings per share. On average, equities research analysts anticipate that Revvity will post 4.97 earnings per share for the current year.

Revvity declared that its Board of Directors has authorized a share buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP bought a new stake in shares of Revvity in the third quarter worth approximately $32,000. Continuum Advisory LLC raised its stake in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after buying an additional 138 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares during the period. Finally, Principal Securities Inc. increased its position in Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock valued at $67,000 after acquiring an additional 212 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other 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.