TD Cowen Raises Revvity (NYSE:RVTY) Price Target to $144.00

Revvity (NYSE:RVTY) had its price target increased by equities researchers at TD Cowen from $141.00 to $144.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 14.86% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Bank of America raised their price objective on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Citigroup boosted their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Leerink Partnrs raised Revvity to a “strong-buy” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Stock Performance

RVTY stock traded up $0.55 during trading on Tuesday, hitting $125.37. The company had a trading volume of 380,304 shares, compared to its average volume of 823,389. Revvity has a 1-year low of $82.17 and a 1-year high of $128.83. The firm has a 50-day moving average price of $121.46 and a 200-day moving average price of $114.29. 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 firm has a market cap of $15.46 billion, a PE ratio of 90.85, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Revvity will post 4.75 earnings per share for the current year.

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

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction 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 directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred on 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 $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,807 shares of company stock worth $937,576 in the last ninety days. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Several institutional investors have recently added to or reduced their stakes in RVTY. Rothschild Investment LLC acquired a new position in Revvity during the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 167 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Revvity during the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Revvity in the 2nd quarter worth $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity in the first quarter valued at $48,000. 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.