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

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

Several other equities analysts have also weighed in on the company. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup raised their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. Finally, Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Performance

Shares of RVTY opened at $125.96 on Tuesday. The stock has a 50 day moving average of $121.53 and a 200 day moving average of $114.47. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 91.28, a PEG ratio of 3.34 and a beta of 1.05. Revvity has a 12 month low of $82.17 and a 12 month high of $128.83. 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 (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS. As a group, sell-side analysts forecast that Revvity will post 4.75 earnings per share for the current year.

Revvity Announces Dividend

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

Revvity declared that its board has initiated a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,153 shares of the business’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 transaction, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value 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 filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Revvity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CX Institutional increased its stake in shares of Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after purchasing an additional 86 shares in the last quarter. Garrison Asset Management LLC grew its stake in shares of Revvity by 0.5% during the 2nd 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 during the period. TriaGen Wealth Management LLC increased its holdings in Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after acquiring an additional 107 shares in the last quarter. Guinness Asset Management LTD raised its stake in Revvity by 3.3% during the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after acquiring an additional 116 shares during the period. Finally, Inspire Investing LLC lifted its holdings in 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 purchasing an additional 117 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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.