Revvity (NYSE:RVTY) Price Target Raised to $144.00 at TD Cowen

Revvity (NYSE:RVTY) had its price objective boosted by TD Cowen from $141.00 to $144.00 in a research note issued to investors on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other analysts also recently weighed in on RVTY. Citigroup increased their target price on shares of 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 increased their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James boosted their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday. Leerink Partners upped their price target 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. Finally, Bank of America lifted their price objective on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

Revvity Price Performance

RVTY stock opened at $122.48 on Tuesday. The company has a market capitalization of $15.11 billion, a P/E ratio of 59.17, a PEG ratio of 3.44 and a beta of 1.05. The company has a fifty day moving average price of $121.64 and a 200-day moving average price of $114.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56. Revvity has a 52-week low of $82.17 and a 52-week high of $129.50.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same period last year, the company earned $1.18 EPS. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Revvity will post 4.75 EPS for the current year.

Revvity announced that its Board of Directors has approved a share buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RVTY. Commerce Bank grew its position in Revvity by 20.6% in the 3rd quarter. Commerce Bank now owns 11,674 shares of the company’s stock worth $1,491,000 after purchasing an additional 1,994 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Revvity during the third quarter worth $393,000. Pathstone Holdings LLC lifted its holdings in Revvity by 70.0% during the third quarter. Pathstone Holdings LLC now owns 21,358 shares of the company’s stock worth $2,728,000 after acquiring an additional 8,791 shares during the period. Finally, Quest Partners LLC bought a new position in Revvity in the 3rd quarter valued at $126,000. 86.65% of the stock is owned by 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.