Revvity (NYSE:RVTY) Price Target Raised to $138.00 at Robert W. Baird

Revvity (NYSE:RVTY) had its price objective hoisted by investment analysts at Robert W. Baird from $136.00 to $138.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 10.56% from the company’s current price.

Several other research analysts also recently weighed in on RVTY. Bank of America upped their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Wells Fargo & Company assumed coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Finally, Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.57.

Revvity Trading Up 3.1 %

Revvity stock opened at $124.82 on Tuesday. The business’s fifty day simple moving average is $121.46 and its two-hundred day simple moving average is $114.29. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 90.45, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05. Revvity has a 12 month low of $82.17 and a 12 month high of $128.83.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same period last year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity declared that its board has authorized a share buyback program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction dated 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 directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,807 shares of company stock valued at $937,576. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Several hedge funds have recently modified their holdings of RVTY. UniSuper Management Pty Ltd lifted its holdings in shares of Revvity by 505.2% during the first quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company’s stock valued at $1,036,000 after purchasing an additional 8,234 shares during the last quarter. Entropy Technologies LP purchased a new position in Revvity during the 1st quarter worth approximately $480,000. Jane Street Group LLC raised its stake in 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 during the period. Quadrature Capital Ltd acquired a new stake in shares of Revvity in the first quarter worth $1,267,000. Finally, Assenagon Asset Management S.A. grew its holdings 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 buying an additional 84,515 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.