Revvity (NYSE:RVTY) Price Target Raised to $140.00 at Barclays

Revvity (NYSE:RVTY) had its price target hoisted by analysts at Barclays from $135.00 to $140.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 11.72% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research note on Monday. Finally, Robert W. Baird boosted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity Price Performance

Shares of RVTY traded down $0.82 during trading hours on Monday, reaching $125.32. The stock had a trading volume of 297,351 shares, compared to its average volume of 878,681. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The stock has a market capitalization of $15.25 billion, a PE ratio of 56.62, a PEG ratio of 4.17 and a beta of 1.03. The company’s 50-day moving average is $116.88 and its two-hundred day moving average is $118.80.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period in the prior year, the company earned $1.25 earnings per share. Research analysts expect that Revvity will post 4.97 EPS for the current year.

Revvity announced that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Planning grew its holdings in shares of Revvity by 7.3% during the second quarter. Creative Planning now owns 19,857 shares of the company’s stock worth $2,082,000 after purchasing an additional 1,359 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Revvity by 165.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,463 shares of the company’s stock valued at $468,000 after purchasing an additional 2,781 shares during the last quarter. Czech National Bank increased its holdings in shares of Revvity by 6.9% in the 3rd quarter. Czech National Bank now owns 25,125 shares of the company’s stock worth $3,210,000 after buying an additional 1,612 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Revvity by 23.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 32,360 shares of the company’s stock valued at $4,134,000 after buying an additional 6,100 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Revvity by 35.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,713 shares of the company’s stock valued at $219,000 after buying an additional 448 shares in the last quarter. 86.65% of the stock is currently 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.