Revvity (NYSE:RVTY) Upgraded by Barclays to Overweight

Barclays upgraded shares of Revvity (NYSE:RVTY) from an equal weight rating to an overweight rating in a research report report published on Tuesday, Marketbeat Ratings reports. Barclays currently has $140.00 price objective on the stock, up from their previous price objective of $125.00.

Several other research firms have also recently weighed in on RVTY. Jefferies Financial Group boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Leerink Partners assumed coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Citigroup raised their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen boosted their price target 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. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and an average price target of $127.20.

Revvity Stock Performance

NYSE:RVTY opened at $119.67 on Tuesday. The stock has a market capitalization of $14.77 billion, a P/E ratio of 98.90, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. 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 1 year low of $79.50 and a 1 year high of $128.15. The firm has a 50 day moving average of $121.61 and a 200-day moving average of $112.98.

Revvity (NYSE:RVTY) last announced its earnings results 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 return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio is 23.14%.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. 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 related news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction 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 owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,807 shares of company stock worth $937,576 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Large investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. acquired a new stake in Revvity in the second quarter valued at $209,221,000. Goldman Sachs Group Inc. bought a new position in Revvity during the fourth quarter worth about $45,453,000. Jane Street Group LLC increased its position in Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Revvity by 18.5% in 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 period. Finally, Janus Henderson Group PLC lifted its position in shares of Revvity by 3.9% in the first 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 during the last quarter. Institutional investors and hedge funds 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.