Barclays Has Lowered Expectations for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY) had its price objective cut by Barclays from $140.00 to $135.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Bank of America increased their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James raised their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen boosted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company began coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price on the stock. 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 stock. Based on data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

Revvity Stock Performance

NYSE:RVTY opened at $116.23 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 56.15, a price-to-earnings-growth ratio of 2.86 and a beta of 1.05. The firm’s fifty day moving average price is $120.05 and its 200 day moving average price is $115.89. Revvity has a 1-year low of $86.30 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, sell-side analysts expect that Revvity will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s dividend payout ratio is currently 13.53%.

Revvity declared that its board has authorized a share repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company’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 completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in Revvity in the second quarter valued at $25,000. Gladius Capital Management LP purchased a new stake in shares of Revvity during the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC increased its position in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares in the last quarter. Family Firm Inc. purchased a new position in Revvity in the second quarter valued at approximately $43,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Revvity during the second quarter valued at approximately $43,000. 86.65% of the stock is owned by institutional investors and hedge funds.

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.