Revvity (NYSE:RVTY) Price Target Lowered to $110.00 at Barclays

Revvity (NYSE:RVTY) had its price objective lowered by equities researchers at Barclays from $140.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 19.48% from the company’s previous close.

A number of other analysts also recently issued reports on the company. KeyCorp lifted their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. Raymond James restated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and an average target price of $133.75.

Revvity Stock Down 9.2 %

Shares of RVTY traded down $9.28 on Thursday, hitting $92.07. 382,011 shares of the stock traded hands, compared to its average volume of 884,902. The company has a market capitalization of $11.06 billion, a PE ratio of 41.75, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity has a one year low of $89.61 and a one year high of $129.50. The business has a 50 day simple moving average of $110.30 and a 200 day simple moving average of $115.59.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the previous year, the firm posted $1.25 EPS. As a group, equities analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Revvity

Several institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its position in Revvity by 16.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after purchasing an additional 2,969,326 shares during the period. EdgePoint Investment Group Inc. lifted its position in Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock valued at $452,939,000 after buying an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the last quarter. Norges Bank acquired a new stake in Revvity in the 4th quarter valued at approximately $127,801,000. Finally, GAMMA Investing LLC lifted its stake in Revvity by 15,023.0% during the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock worth $30,368,000 after purchasing an additional 285,137 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.