Revvity (NYSE:RVTY) Price Target Raised to $145.00 at KeyCorp

Revvity (NYSE:RVTY) had its price objective lifted by KeyCorp from $132.00 to $145.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on RVTY. Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners raised their price objective 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. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Barclays lowered their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Four investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Trading Down 0.6 %

NYSE RVTY opened at $122.47 on Monday. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 55.42, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm’s fifty day moving average price is $117.22 and its 200 day moving average price is $119.00.

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 quarter in the previous year, the company earned $1.25 EPS. On average, sell-side analysts expect that Revvity will post 4.97 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 buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RVTY. Janus Henderson Group PLC lifted its holdings in Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. State Street Corp grew its stake in Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after acquiring an additional 17,832 shares during the period. Geode Capital Management LLC raised its holdings in Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after acquiring an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the period. Finally, RGM Capital LLC grew its position in shares of Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after purchasing an additional 30,000 shares during the period. 86.65% of the stock is 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.