Revvity (NYSE:RVTY) Coverage Initiated by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company began coverage on shares of Revvity (NYSE:RVTY) in a research report issued on Tuesday, Benzinga reports. The brokerage set an “equal weight” rating and a $130.00 price target on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 6.17% from the stock’s previous close.

RVTY has been the topic of a number of other reports. TD Cowen increased their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Citigroup raised their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Bank of America raised their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird raised their target price on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Revvity Trading Up 1.0 %

Shares of RVTY stock traded up $1.26 during trading hours on Tuesday, hitting $122.44. 541,863 shares of the company were exchanged, compared to its average volume of 853,396. The firm has a market cap of $15.11 billion, a P/E ratio of 101.19, a P/E/G ratio of 2.97 and a beta of 1.05. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $128.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. The company has a 50 day simple moving average of $113.09 and a two-hundred day simple moving average of $108.44.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same quarter last year, the firm posted $1.21 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts anticipate that Revvity will post 4.75 EPS for the current year.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joel S. Goldberg sold 4,000 shares of the company’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 value of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revvity

A number of institutional investors have recently added to or reduced their stakes in the company. Czech National Bank raised its holdings in Revvity by 0.5% in the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after purchasing an additional 99 shares in the last quarter. Garrison Asset Management LLC increased its holdings in shares of Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after acquiring an additional 103 shares in the last quarter. TriaGen Wealth Management LLC increased its holdings in shares of Revvity by 2.3% during the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after acquiring an additional 107 shares in the last quarter. Guinness Asset Management LTD increased its holdings in shares of Revvity by 3.3% during the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after acquiring an additional 116 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Revvity by 2.9% during the first quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

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.