Revvity (NYSE:RVTY) PT Raised to $141.00

Revvity (NYSE:RVTY) had its target price lifted by TD Cowen from $130.00 to $141.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 14.10% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group upped 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 increased their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday. SVB Leerink started coverage on shares of Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $123.81.

Revvity Price Performance

Shares of RVTY traded down $2.01 during mid-day trading on Tuesday, reaching $123.58. 405,669 shares of the stock traded hands, compared to its average volume of 875,124. The firm has a fifty day moving average price of $109.09 and a 200 day moving average price of $106.57. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 102.09, a price-to-earnings-growth ratio of 3.00 and a beta of 1.05. Revvity has a 1 year low of $79.50 and a 1 year high of $127.88.

Revvity (NYSE:RVTY) last issued 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 7.37% and a net margin of 5.49%. The firm had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same period last year, the company earned $1.21 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Revvity will post 4.64 earnings per share for the current year.

Insider Transactions at Revvity

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

Hedge Funds Weigh In On Revvity

A number of hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Revvity in the fourth quarter valued at about $3,593,000. Byrne Asset Management LLC bought a new stake in shares of Revvity in the fourth quarter worth $1,112,000. BNP Paribas Financial Markets bought a new position in Revvity in the fourth quarter worth about $12,039,000. State of Michigan Retirement System acquired a new stake in Revvity in the fourth quarter worth about $3,688,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Revvity during the 4th quarter valued at $15,213,000. 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.