Revvity (NYSE:RVTY) Given New $110.00 Price Target at Barclays

Revvity (NYSE:RVTY) had its price target dropped by analysts at Barclays from $140.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 16.17% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, KeyCorp raised their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.75.

Revvity Price Performance

Shares of RVTY opened at $94.69 on Thursday. The firm has a fifty day simple moving average of $109.12 and a two-hundred day simple moving average of $115.17. The firm has a market cap of $11.38 billion, a PE ratio of 42.84, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity has a 1-year low of $89.61 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating 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 firm earned $1.25 earnings per share. On average, equities analysts anticipate that Revvity will post 4.94 EPS for the current year.

Insider Buying and Selling at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company’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 transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of hedge funds have recently made changes to their positions in RVTY. T. Rowe Price Investment Management Inc. raised its stake in Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after purchasing an additional 2,969,326 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after buying an additional 156,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Revvity by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after buying an additional 1,151,821 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after acquiring an additional 23,650 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its position in Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after acquiring an additional 1,372,456 shares in the last quarter. 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.