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

Revvity (NYSE:RVTY) had its target price lifted by stock analysts at Citigroup from $135.00 to $145.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 17.92% from the company’s current price.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised their price objective on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday. SVB Leerink started coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, Barclays raised their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.13.

Revvity Stock Performance

NYSE:RVTY traded down $2.63 during trading hours on Tuesday, reaching $122.96. The company had a trading volume of 242,143 shares, compared to its average volume of 873,996. The firm’s 50 day moving average price is $109.09 and its 200-day moving average price is $106.57. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 101.62, a PEG ratio of 3.00 and a beta of 1.05. Revvity has a 52 week low of $79.50 and a 52 week high of $127.88. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. Revvity’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 EPS. On average, analysts forecast that Revvity will post 4.64 EPS for the current year.

Insider Activity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new position in shares of Revvity during the 4th quarter worth approximately $25,000. CENTRAL TRUST Co purchased a new position in shares of Revvity during the 4th quarter worth $27,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Revvity in the fourth quarter valued at about $27,000. ORG Partners LLC acquired a new stake in Revvity during the fourth quarter worth about $32,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in Revvity in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors 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.