TD Cowen Raises Revvity (NYSE:RVTY) Price Target to $130.00

Revvity (NYSE:RVTY) had its price objective raised by analysts at TD Cowen from $123.00 to $130.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 25.40% from the stock’s previous close.

RVTY has been the topic of a number of other reports. Raymond James increased their target price on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Barclays raised their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and upped their target price for the company from $88.00 to $125.00 in a report on Thursday, January 4th. UBS Group downgraded Revvity from a “buy” rating to a “neutral” rating and raised their price target for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Finally, KeyCorp upped their price objective on Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $119.83.

Revvity Stock Down 1.3 %

Shares of RVTY stock traded down $1.35 during trading hours on Tuesday, hitting $103.67. 83,789 shares of the company were exchanged, compared to its average volume of 840,526. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 2.64 and a beta of 1.09. Revvity has a one year low of $79.50 and a one year high of $132.54. The business’s 50-day simple moving average is $104.71 and its two-hundred day simple moving average is $101.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Sell-side analysts predict that Revvity will post 4.65 EPS for the current fiscal year.

Insider Activity at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new stake in shares of Revvity in the fourth quarter worth $1,112,000. State of Michigan Retirement System acquired a new position in shares of Revvity during the fourth quarter valued at $3,688,000. Gulf International Bank UK Ltd acquired a new position in Revvity during the 4th quarter valued at about $1,136,000. State of Alaska Department of Revenue bought a new position in Revvity in the fourth quarter valued at approximately $1,456,000. Finally, International Assets Investment Management LLC bought a new position in shares of Revvity in the 4th quarter worth $1,278,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

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.