Revvity (NYSE:RVTY) Price Target Cut to $145.00 by Analysts at Sanford C. Bernstein

Revvity (NYSE:RVTY) had its target price lowered by Sanford C. Bernstein from $150.00 to $145.00 in a research note issued to investors on Tuesday, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

RVTY has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Citigroup increased their target price on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird upped their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Cowen lifted their price objective on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Leerink Partners upped their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Up 0.9 %

NYSE RVTY opened at $125.96 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. Revvity has a 12 month low of $82.17 and a 12 month high of $128.83. The stock’s 50 day moving average is $121.53 and its 200 day moving average is $114.47. The stock has a market cap of $15.54 billion, a PE ratio of 91.28, a P/E/G ratio of 3.34 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. Revvity’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. Research analysts predict that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 20.29%.

Revvity announced that its board has authorized a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Institutional Trading of Revvity

Several hedge funds and other institutional investors have recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. purchased a new stake in shares of Revvity during the 2nd quarter worth $209,221,000. Jane Street Group LLC raised its holdings in Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 buying an additional 332,632 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Revvity by 3.9% in 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 in the last quarter. Finally, Magnetar Financial LLC grew its position in shares of Revvity by 441.3% in the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after buying an additional 111,178 shares during the last quarter. 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.