Barclays Cuts Revvity (NYSE:RVTY) Price Target to $115.00

Revvity (NYSE:RVTY) had its target price lowered by Barclays from $116.00 to $115.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on RVTY. Jefferies Financial Group assumed coverage on shares of Revvity in a research report on Monday, June 3rd. They set a hold rating and a $115.00 price target for the company. Robert W. Baird raised their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. Finally, TD Cowen raised their target price on shares of Revvity from $123.00 to $130.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $118.69.

Revvity Price Performance

RVTY stock opened at $104.86 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.23. Revvity has a 52 week low of $79.50 and a 52 week high of $131.96. The firm’s fifty day moving average is $107.16 and its 200 day moving average is $106.36. The firm has a market cap of $12.94 billion, a P/E ratio of 86.66, a P/E/G ratio of 2.73 and a beta of 1.08.

Revvity (NYSE:RVTY) last released its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The company had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the firm earned $1.01 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts predict that Revvity will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now directly owns 36,900 shares in the company, valued at approximately $4,075,974. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Revvity

Institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new stake in Revvity during the 4th quarter valued at about $25,000. Gladius Capital Management LP grew its stake in shares of Revvity by 84.1% in the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after acquiring an additional 106 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Revvity in the fourth quarter worth approximately $27,000. CENTRAL TRUST Co bought a new stake in shares of Revvity in the fourth quarter worth approximately $27,000. Finally, ORG Partners LLC bought a new stake in shares of Revvity in the fourth quarter worth approximately $32,000. 86.65% of the stock is currently owned by 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.