Revvity (NYSE:RVTY) Price Target Raised to $140.00 at Barclays

Revvity (NYSE:RVTY) had its price objective raised by Barclays from $135.00 to $140.00 in a report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on RVTY. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Leerink Partners raised their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Raymond James restated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research report on Monday. Finally, Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus 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 twelve month low of $97.32 and a twelve month high of $129.50. The business has a 50 day moving average price of $117.22 and a two-hundred day moving average price of $119.00. The company has a market cap of $14.90 billion, a P/E ratio of 55.42, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $1.25 earnings per share. As a group, analysts expect that Revvity will post 4.97 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy 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.

Insider Activity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after purchasing an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. raised its position in shares of Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Bretton Capital Management LLC bought a new stake in Revvity during the 3rd quarter valued at $1,405,000. FMR LLC lifted its holdings in Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after acquiring an additional 34,428 shares during the period. 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.