Revvity (NYSE:RVTY) Upgraded to “Overweight” by Barclays

Revvity (NYSE:RVTY) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Briefing.com reports. The brokerage currently has a $140.00 price target on the stock, up from their prior price target of $125.00. Barclays‘s target price would indicate a potential upside of 13.90% from the company’s previous close.

A number of other brokerages have also recently commented on RVTY. Leerink Partners began coverage on Revvity in a research report on Monday, July 8th. They set an “outperform” rating and a $125.00 price target for the company. Bank of America lifted their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group increased their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Seven 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.com, Revvity has a consensus rating of “Moderate Buy” and an average price target of $126.53.

Revvity Price Performance

Shares of RVTY opened at $122.91 on Tuesday. The company has a 50 day moving average of $121.42 and a two-hundred day moving average of $112.63. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Revvity has a twelve month low of $79.50 and a twelve month high of $128.15. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 101.58, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, analysts predict that Revvity will post 4.75 earnings per share for the current fiscal year.

Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’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 completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Tajinder S. Vohra sold 2,153 shares of Revvity 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 directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of the business’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 value of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock worth $937,576 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

A number of institutional investors have recently made changes to their positions in the company. CX Institutional grew its stake in Revvity by 1.1% during the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after acquiring an additional 86 shares in the last quarter. Czech National Bank boosted its stake in Revvity by 0.5% during the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after buying an additional 99 shares during the last quarter. Garrison Asset Management LLC boosted its stake in Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after buying an additional 103 shares during the last quarter. TriaGen Wealth Management LLC grew its holdings in Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares in the last quarter. Finally, Guinness Asset Management LTD increased its stake in shares of Revvity by 3.3% in the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after acquiring an additional 116 shares during 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.