Revvity (NYSE:RVTY) Upgraded to Overweight by Barclays

Revvity (NYSE:RVTY) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $140.00 target price on the stock, up from their previous target price of $125.00. Barclays‘s price objective would suggest a potential upside of 16.46% from the stock’s previous close.

RVTY has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Leerink Partners assumed coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective for the company. TD Cowen boosted their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned 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 $126.53.

Revvity Price Performance

Shares of RVTY opened at $120.21 on Tuesday. 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 stock’s 50 day moving average is $121.60 and its two-hundred day moving average is $112.82. Revvity has a twelve month low of $79.50 and a twelve month high of $128.15. The firm has a market capitalization of $14.83 billion, a PE ratio of 99.35, a P/E/G ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. Revvity’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Revvity will post 4.75 earnings per share for the current year.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Revvity news, 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 completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock worth $937,576 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its stake 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 valued at $594,769,000 after buying an additional 210,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after acquiring an additional 332,632 shares during the period. EdgePoint Investment Group Inc. acquired a new stake in Revvity during the second quarter worth about $209,221,000. Dimensional Fund Advisors LP raised its holdings in shares of Revvity by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after purchasing an additional 57,656 shares during the period. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Revvity by 2.2% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after purchasing an additional 23,318 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.