Revvity (NYSE:RVTY) Price Target Lowered to $140.00 at Raymond James

Revvity (NYSE:RVTY) had its price target lowered by equities researchers at Raymond James from $146.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 13.30% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Barclays lowered their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen upped 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. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. Finally, Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.00.

Revvity Stock Performance

Shares of Revvity stock traded up $5.18 during trading hours on Tuesday, reaching $123.57. 474,144 shares of the stock traded hands, compared to its average volume of 721,016. Revvity has a one year low of $97.32 and a one year high of $129.50. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 59.68, a P/E/G ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $114.89 and a 200 day moving average price of $117.77.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 earnings per share. On average, equities research analysts expect that Revvity will post 4.84 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on 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 transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Revvity during the 3rd quarter valued at $32,000. Continuum Advisory LLC grew its stake in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after acquiring an additional 138 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Finally, Avior Wealth Management LLC grew its stake in 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 purchasing an additional 399 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

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.