Wells Fargo & Company Lowers Revvity (NYSE:RVTY) Price Target to $102.00

Revvity (NYSE:RVTY) had its target price reduced by Wells Fargo & Company from $130.00 to $102.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 11.08% from the company’s current price.

RVTY has been the topic of several other research reports. Raymond James restated 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, February 3rd. KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Finally, Barclays decreased their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.42.

Revvity Price Performance

Shares of RVTY opened at $91.82 on Thursday. The company has a market capitalization of $11.03 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity has a twelve month low of $89.61 and a twelve month high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $106.77 and a 200 day moving average of $114.14.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $1.25 earnings per share. As a group, equities research analysts anticipate that Revvity will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were 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 $4,232,782. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after acquiring an additional 259 shares in the last quarter. Optiver Holding B.V. bought a new stake in Revvity during the 4th quarter valued at approximately $33,000. Quarry LP lifted its holdings in Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Millstone Evans Group LLC bought a new position in Revvity in the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Revvity during the 4th quarter valued at approximately $41,000. Institutional investors 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.