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

Revvity (NYSE:RVTY) had its target price lowered by Sanford C. Bernstein from $150.00 to $145.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target would suggest a potential upside of 16.13% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $140.00 in a research report on Tuesday, October 15th. Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen raised their price objective on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Jefferies Financial Group upped their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

Revvity Stock Down 0.9 %

RVTY opened at $124.86 on Tuesday. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 3.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The firm’s 50-day simple moving average is $121.60 and its 200-day simple moving average is $114.54. Revvity has a twelve month low of $82.17 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Revvity will post 4.75 EPS for the current fiscal year.

Revvity declared that its board has initiated a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated 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 in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Large investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity during the second quarter worth $209,221,000. Jane Street Group LLC increased its holdings in Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Revvity by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after purchasing an additional 332,632 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after purchasing an additional 210,100 shares during the period. Finally, Magnetar Financial LLC lifted its holdings in shares of Revvity by 441.3% in the first quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock valued at $14,319,000 after purchasing an additional 111,178 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

About Revvity

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.