Revvity (NYSE:RVTY) Lifted to “Overweight” at Barclays

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

Several other research analysts have also recently weighed in on RVTY. Citigroup upped their price target on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group increased their price objective on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Bank of America increased 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. Leerink Partners began coverage on Revvity in a research report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective on the stock. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.20.

Revvity Stock Performance

NYSE RVTY opened at $119.05 on Tuesday. The company’s 50 day moving average is $121.59 and its 200-day moving average is $112.87. Revvity has a 12-month low of $79.50 and a 12-month high of $128.15. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The firm has a market cap of $14.69 billion, a P/E ratio of 98.39, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Revvity will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

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 paid a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Revvity

Large investors have recently modified their holdings of the business. Rothschild Investment LLC bought a new stake in shares of Revvity in the second quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Fairfield Financial Advisors LTD bought a new stake in shares of Revvity in the second quarter worth about $43,000. Family Firm Inc. bought a new stake in shares of Revvity in the second quarter worth about $43,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Revvity in the first quarter worth about $48,000. 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.