Revvity (NYSE:RVTY) Price Target Cut to $145.00 by Analysts at Sanford C. Bernstein

Revvity (NYSE:RVTY) had its price target dropped by research analysts at Sanford C. Bernstein from $150.00 to $145.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target points to a potential upside of 15.80% from the company’s previous close.

A number of other research firms have also weighed in on RVTY. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company began coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Finally, TD Cowen lifted their price target on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus price target of $131.87.

Revvity Stock Up 0.3 %

Shares of Revvity stock traded up $0.40 during trading on Tuesday, hitting $125.22. The company’s stock had a trading volume of 348,550 shares, compared to its average volume of 823,241. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The company has a fifty day simple moving average of $121.46 and a two-hundred day simple moving average of $114.29. The company has a market capitalization of $15.44 billion, a PE ratio of 90.74, a P/E/G ratio of 3.34 and a beta of 1.05. Revvity has a 52 week low of $82.17 and a 52 week high of $128.83.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.18 EPS. Equities research analysts predict that Revvity will post 4.75 earnings per share for the current year.

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

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,807 shares of company stock valued at $937,576 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Revvity

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in Revvity during the second quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares in the last quarter. Family Firm Inc. purchased a new stake in Revvity during the second quarter valued at $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Revvity in the 2nd quarter worth approximately $43,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revvity during the 1st quarter valued at approximately $48,000. Institutional investors own 86.65% of the company’s stock.

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.