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

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

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Raymond James upped their price target 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 upped their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Leerink Partners upped their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

Revvity Price Performance

Shares of NYSE RVTY opened at $114.66 on Monday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity has a twelve month low of $86.30 and a twelve month high of $129.50. The stock has a 50 day moving average of $120.37 and a two-hundred day moving average of $115.81. The stock 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 issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Revvity will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

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 issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

Revvity announced that its board has authorized 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 reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s 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 sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Revvity

Large investors have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in Revvity by 516.4% in the first 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 during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Revvity by 3,171.3% during the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after acquiring an additional 84,515 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Revvity by 27.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock valued at $8,790,000 after acquiring an additional 18,367 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Revvity during the first quarter valued at $1,214,000. Finally, Artemis Investment Management LLP boosted its stake in shares of Revvity by 21.3% during the second quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock valued at $11,287,000 after acquiring an additional 18,916 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.