Barclays Cuts Revvity (NYSE:RVTY) Price Target to $115.00

Revvity (NYSE:RVTY) had its price target decreased by Barclays from $116.00 to $115.00 in a report issued on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Revvity in a research note on Monday, June 3rd. They issued a hold rating and a $115.00 target price for the company. TD Cowen upped their target price on shares of Revvity from $123.00 to $130.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Robert W. Baird upped their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Revvity presently has an average rating of Moderate Buy and an average target price of $118.69.

Revvity Stock Down 0.8 %

Shares of Revvity stock opened at $104.86 on Friday. The firm’s 50 day moving average price is $107.16 and its 200-day moving average price is $106.36. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity has a 52-week low of $79.50 and a 52-week high of $131.96. The company has a market cap of $12.94 billion, a P/E ratio of 86.66, a PEG ratio of 2.73 and a beta of 1.08.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business had revenue of $649.90 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the business posted $1.01 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Revvity will post 4.65 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s payout ratio is currently 23.14%.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the sale, the insider now owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Revvity

Several hedge funds have recently added to or reduced their stakes in RVTY. Parkside Financial Bank & Trust purchased a new position in shares of Revvity during the fourth quarter worth approximately $25,000. Gladius Capital Management LP boosted its position in shares of Revvity by 84.1% during the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Revvity during the 4th quarter worth $27,000. CENTRAL TRUST Co purchased a new stake in shares of Revvity in the 4th quarter worth about $27,000. Finally, ORG Partners LLC purchased a new stake in shares of Revvity in the 4th quarter worth about $32,000. 86.65% of the stock is currently owned by hedge funds and other 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.