TD Cowen Issues Positive Forecast for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY) had its price target lifted by investment analysts at TD Cowen from $141.00 to $144.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 14.86% from the company’s previous close.

Several other research analysts have also commented on the stock. Robert W. Baird boosted their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $125.00 to $140.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group increased their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Stock Up 0.4 %

NYSE:RVTY traded up $0.55 during trading hours on Tuesday, reaching $125.37. The company’s stock had a trading volume of 380,304 shares, compared to its average volume of 823,389. The stock has a 50 day moving average price of $121.46 and a two-hundred day moving average price of $114.29. 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 company has a market capitalization of $15.46 billion, a P/E ratio of 90.85, 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 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $679.66 million. During the same period in the previous year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Revvity will post 4.75 EPS for the current fiscal year.

Revvity announced that its board has approved a stock buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 completion of the transaction, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,807 shares of company stock worth $937,576. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Several institutional investors have recently modified their holdings of RVTY. EdgePoint Investment Group Inc. purchased a new stake in shares of Revvity during the second quarter worth approximately $209,221,000. Jane Street Group LLC increased its position in shares of Revvity by 516.4% in 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after purchasing an additional 332,632 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after purchasing an additional 210,100 shares during the last quarter. Finally, Magnetar Financial LLC grew its stake in shares of Revvity by 441.3% during the first quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after purchasing an additional 111,178 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.