Revvity (NYSE:RVTY) Price Target Cut to $127.00 by Analysts at Robert W. Baird

Revvity (NYSE:RVTY) had its target price decreased by Robert W. Baird from $141.00 to $127.00 in a research note issued to investors on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other analysts have also recently commented on RVTY. KeyCorp boosted their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research note on Friday, January 10th. Finally, Barclays decreased their price target on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.50.

Revvity Price Performance

Shares of NYSE RVTY opened at $89.72 on Monday. The firm’s 50 day simple moving average is $106.34 and its 200-day simple moving average is $113.76. Revvity has a 12 month low of $88.53 and a 12 month high of $129.50. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 40.60, a PEG ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 business earned $1.25 earnings per share. Analysts expect that Revvity will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revvity

Large investors have recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV raised its holdings in Revvity by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company’s stock valued at $1,682,000 after buying an additional 91 shares during the period. Quarry LP raised its stake in shares of Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after acquiring an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Revvity by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Revvity by 4.6% during the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after purchasing an additional 104 shares during the period. Finally, Signaturefd LLC increased its holdings in Revvity by 6.8% in the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds 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.