Revvity (NYSE:RVTY) Price Target Raised to $160.00

Revvity (NYSE:RVTY) had its price target raised by JPMorgan Chase & Co. from $155.00 to $160.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings raised Revvity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Revvity from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Royal Bank Of Canada upped their price objective on shares of Revvity from $135.00 to $172.00 and gave the company a “sector perform” rating in a research note on Wednesday. Barclays upped their price objective on shares of Revvity from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Bank of America reaffirmed a “neutral” rating on shares of Revvity in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, Revvity currently has an average rating of “Hold” and an average price target of $133.86.

Revvity Price Performance

Shares of NYSE RVTY traded up $4.49 during mid-day trading on Wednesday, reaching $155.32. 1,683,252 shares of the company were exchanged, compared to its average volume of 1,785,214. Revvity has a 52 week low of $81.22 and a 52 week high of $171.74. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $17.33 billion, a PE ratio of 68.73, a PEG ratio of 2.76 and a beta of 1.08. The company’s 50 day moving average price is $147.60 and its 200 day moving average price is $113.25.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The business had revenue of $728.90 million for the quarter, compared to the consensus estimate of $694.73 million. During the same quarter last year, the business posted $1.18 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Revvity will post 5.42 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 22nd. Revvity’s dividend payout ratio is currently 12.39%.

Insider Transactions at Revvity

In other Revvity news, insider Maxwell Krakowiak sold 1,631 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $144.53, for a total transaction of $235,728.43. Following the completion of the transaction, the insider owned 14,781 shares of the company’s stock, valued at $2,136,297.93. This represents a 9.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 7,330 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the completion of the sale, the insider owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. This trade represents a 52.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,045 shares of company stock valued at $1,281,439. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revvity

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Revvity in the second quarter valued at $3,845,000. The Manufacturers Life Insurance Company raised its holdings in Revvity by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 368,938 shares of the company’s stock worth $41,048,000 after purchasing an additional 20,278 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Revvity by 10,653.8% in the 2nd quarter. Wellington Management Group LLP now owns 865,575 shares of the company’s stock worth $96,304,000 after purchasing an additional 857,526 shares during the period. State Street Corp lifted its position in shares of Revvity by 0.8% in the 2nd quarter. State Street Corp now owns 4,342,739 shares of the company’s stock worth $483,173,000 after purchasing an additional 32,426 shares during the period. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Revvity during the 2nd quarter valued at about $4,791,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Company Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.