Robert W. Baird Boosts Revvity (NYSE:RVTY) Price Target to $138.00

Revvity (NYSE:RVTY) had its price objective upped by Robert W. Baird from $136.00 to $138.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on the company. Bank of America upped their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. TD Cowen increased their price target on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Down 0.7 %

RVTY stock opened at $124.00 on Tuesday. The company has a current ratio of 3.56, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $121.64 and its 200 day moving average price is $114.61. Revvity has a 52 week low of $82.17 and a 52 week high of $129.50. The company has a market cap of $15.29 billion, a P/E ratio of 59.90, a P/E/G ratio of 3.44 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced 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. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. On average, research analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity declared 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 repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

Insider Buying and Selling

In other 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated 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 owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the company’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 sale, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC raised its stake in shares of Revvity by 95.1% in the 1st quarter. Private Advisor Group LLC now owns 4,440 shares of the company’s stock valued at $466,000 after acquiring an additional 2,164 shares during the period. BNP Paribas Financial Markets raised its position in Revvity by 68.7% in the first quarter. BNP Paribas Financial Markets now owns 185,812 shares of the company’s stock valued at $19,510,000 after purchasing an additional 75,678 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Revvity by 104.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the company’s stock worth $982,000 after purchasing an additional 4,783 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock worth $409,000 after purchasing an additional 135 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Revvity by 7.3% in the first quarter. Nordea Investment Management AB now owns 8,962 shares of the company’s stock worth $946,000 after buying an additional 607 shares during the period. 86.65% of the stock is 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.