Sanford C. Bernstein Cuts Revvity (NYSE:RVTY) Price Target to $145.00

Revvity (NYSE:RVTY) had its price objective decreased by Sanford C. Bernstein from $150.00 to $145.00 in a research note issued to investors on Tuesday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Jefferies Financial Group raised their price objective on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. TD Cowen upped their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup lifted their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Leerink Partners upped their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average target price of $132.07.

Revvity Price Performance

Shares of RVTY opened at $124.00 on Tuesday. The firm has a market cap of $15.29 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05. Revvity has a 52-week low of $82.17 and a 52-week high of $129.50. The business’s 50 day moving average price is $121.64 and its two-hundred day moving average price is $114.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56.

Revvity (NYSE:RVTY) last released 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 company had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. On average, equities analysts anticipate that Revvity will post 4.75 EPS for the current year.

Revvity Announces Dividend

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

Revvity declared that its board has authorized a stock buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction on 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 $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Institutional investors have recently added to or reduced their stakes in the business. Empirical Finance LLC lifted its stake in shares of Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after buying an additional 85 shares in the last quarter. CX Institutional raised its holdings 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 during the period. Garrison Asset Management LLC lifted its position in shares of 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 acquiring an additional 103 shares in the last quarter. TriaGen Wealth Management LLC boosted its holdings in shares of Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after acquiring an additional 107 shares during the period. Finally, Guinness Asset Management LTD grew its position in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after purchasing an additional 116 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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.