Revvity (NYSE:RVTY) Price Target Raised to $146.00

Revvity (NYSE:RVTY) had its target price raised by Raymond James from $144.00 to $146.00 in a report published on Tuesday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

RVTY has been the topic of several other research reports. Jefferies Financial Group raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Leerink Partners lifted their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Bank of America lifted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Citigroup lifted their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Seven 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, the company has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Revvity Stock Performance

Revvity stock opened at $122.48 on Tuesday. The firm’s fifty day moving average price is $121.64 and its 200-day moving average price is $114.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56. The stock has a market cap of $15.11 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05. Revvity has a fifty-two week low of $82.17 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. On average, equities research analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is 13.53%.

Revvity announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several hedge funds have recently bought and sold shares of the business. Commerce Bank boosted its stake in Revvity by 20.6% during the third quarter. Commerce Bank now owns 11,674 shares of the company’s stock worth $1,491,000 after acquiring an additional 1,994 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Revvity during the third quarter worth about $393,000. Pathstone Holdings LLC boosted its stake in Revvity by 70.0% during the third quarter. Pathstone Holdings LLC now owns 21,358 shares of the company’s stock worth $2,728,000 after acquiring an additional 8,791 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Revvity during the third quarter worth about $126,000. Institutional investors own 86.65% of the company’s stock.

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.