Revvity (NYSE:RVTY) Price Target Cut to $135.00 by Analysts at Barclays

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

A number of other research analysts have also recently commented on RVTY. Citigroup upped their price target on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped 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. Sanford C. Bernstein cut their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Raymond James increased their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Leerink Partners increased their target price 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 research 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 company. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

Revvity Trading Up 1.0 %

Shares of RVTY opened at $116.23 on Monday. Revvity has a twelve month low of $86.30 and a twelve month high of $129.50. The company has a market cap of $14.15 billion, a P/E ratio of 56.15, a P/E/G ratio of 2.86 and a beta of 1.05. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $119.84 and its 200-day simple moving average is $115.89.

Revvity (NYSE:RVTY) last announced its earnings results 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. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity Announces Dividend

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

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

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revvity

Institutional investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. purchased a new position in shares of Revvity during the 2nd quarter valued at approximately $209,221,000. Jane Street Group LLC increased its holdings in shares of Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after purchasing an additional 379,802 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Revvity in the 3rd quarter valued at $25,550,000. Janus Henderson Group PLC grew its stake in Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after acquiring an additional 108,401 shares during the period. Finally, Holocene Advisors LP grew its stake in Revvity by 14.6% in the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after acquiring an additional 92,240 shares during the period. 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.