Revvity (NYSE:RVTY) Price Target Raised to $127.00

Revvity (NYSE:RVTY) had its price target upped by analysts at Robert W. Baird from $126.00 to $127.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 23.78% from the company’s current price.

A number of other analysts also recently issued reports on the stock. KeyCorp boosted their price objective on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Barclays boosted their price objective on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Finally, UBS Group cut shares of Revvity from a “buy” rating to a “neutral” rating and boosted their target price for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.17.

Revvity Stock Performance

Shares of RVTY stock opened at $102.60 on Tuesday. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 84.79, a PEG ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.23. The company has a 50-day simple moving average of $104.70 and a 200 day simple moving average of $101.32. Revvity has a 52 week low of $79.50 and a 52 week high of $132.54.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, sell-side analysts predict that Revvity will post 4.65 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at approximately $9,677,288.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revvity

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in Revvity during the 3rd quarter worth approximately $1,579,487,000. Capital Research Global Investors bought a new stake in Revvity during the 4th quarter worth approximately $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Revvity during the 4th quarter worth approximately $188,368,000. Norges Bank bought a new stake in Revvity during the 4th quarter worth approximately $129,483,000. Finally, Northern Trust Corp bought a new stake in Revvity during the 4th quarter worth approximately $127,401,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.