Raymond James Forecasts Strong Price Appreciation for Revvity (NYSE:RVTY) Stock

Revvity (NYSE:RVTY) had its price target raised by Raymond James from $144.00 to $146.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the stock. Citigroup increased their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Bank of America upped their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein dropped their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Price Performance

Shares of NYSE RVTY opened at $125.96 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $121.53 and its two-hundred day moving average price is $114.47. The company has a market cap of $15.54 billion, a PE ratio of 91.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05. Revvity has a twelve month low of $82.17 and a twelve month high of $128.83.

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

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is presently 20.29%.

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

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, 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. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revvity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC bought a new stake in shares of Revvity during the second quarter worth $25,000. EverSource Wealth Advisors LLC grew 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 stake in Revvity during the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD acquired a new position in Revvity in the 2nd quarter worth about $43,000. Finally, EntryPoint Capital LLC bought a new position in Revvity in the first quarter valued at about $48,000. 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.