Revvity (NYSE:RVTY) Given New $135.00 Price Target at Barclays

Revvity (NYSE:RVTY) had its target price lowered by Barclays from $140.00 to $135.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on RVTY. Raymond James raised their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company assumed coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.73.

Revvity Stock Up 2.3 %

NYSE RVTY opened at $114.66 on Monday. The business has a fifty day moving average price of $120.37 and a 200 day moving average price of $115.81. Revvity has a one year low of $86.30 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company has a market cap of $13.95 billion, a P/E ratio of 55.39, a P/E/G ratio of 2.80 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same period in the prior year, the company earned $1.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Revvity will post 4.85 EPS for the current fiscal year.

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

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Insider Transactions at Revvity

In other 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 transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

A number of institutional investors and hedge funds have recently made changes to their positions in RVTY. Janus Henderson Group PLC boosted its holdings in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. State Street Corp boosted its holdings in Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after purchasing an additional 17,832 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.