Revvity (NYSE:RVTY) Price Target Raised to $138.00

Revvity (NYSE:RVTY) had its target price boosted by equities researchers at Robert W. Baird from $136.00 to $138.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 10.56% from the stock’s previous close.

Several other research firms have also recently commented on RVTY. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen increased their price target on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.57.

Revvity Trading Up 3.1 %

Shares of NYSE RVTY opened at $124.82 on Tuesday. The business has a 50 day simple moving average of $121.46 and a 200 day simple moving average of $114.29. Revvity has a 52 week low of $82.17 and a 52 week high of $128.83. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 90.45, a PEG ratio of 3.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the company posted $1.18 earnings per share. Revvity’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts predict that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity declared that its board has authorized a stock repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the business’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 value of $262,859.77. Following the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the 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 of the company’s stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,807 shares of company stock worth $937,576. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently made changes to their positions in RVTY. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity during the 2nd quarter valued at $209,221,000. Jane Street Group LLC increased its holdings in Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after buying an additional 379,802 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after buying an additional 332,632 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after acquiring an additional 210,100 shares during the period. Finally, Magnetar Financial LLC boosted its position in shares of Revvity by 441.3% during the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after acquiring an additional 111,178 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 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.