KeyCorp Raises Revvity (NYSE:RVTY) Price Target to $145.00

Revvity (NYSE:RVTY) had its price target hoisted by equities research analysts at KeyCorp from $132.00 to $145.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 14.96% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Raymond James cut their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Robert W. Baird upped their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Barclays decreased their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.42.

Revvity Trading Down 0.6 %

Revvity stock opened at $126.13 on Monday. Revvity has a 12-month low of $97.32 and a 12-month high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market capitalization of $15.35 billion, a PE ratio of 57.07, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The firm has a 50 day simple moving average of $116.88 and a 200-day simple moving average of $118.76.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities research analysts expect that Revvity will post 4.97 EPS for the current fiscal year.

Revvity declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently bought and sold shares of RVTY. Gladius Capital Management LP bought a new position in shares of Revvity in the 3rd quarter valued at about $32,000. Continuum Advisory LLC grew its stake in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after purchasing an additional 138 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Revvity by 54.9% during the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds 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.