KeyCorp Forecasts Strong Price Appreciation for Revvity (NYSE:RVTY) Stock

Revvity (NYSE:RVTY - Get Free Report) had its target price upped by research analysts at KeyCorp from $132.00 to $145.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target suggests a potential upside of 21.67% from the company's previous close.

RVTY has been the subject of several other research reports. Raymond James dropped their price target on shares of Revvity from $146.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, January 21st. Bank of America raised shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Robert W. Baird increased their price target on shares of Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein lowered shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Revvity has an average rating of "Moderate Buy" and an average price target of $136.25.

Revvity Trading Down 2.6 %

Shares of Revvity stock traded down $3.20 during trading on Monday, reaching $119.17. The company's stock had a trading volume of 942,985 shares, compared to its average volume of 903,543. Revvity has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 4.17 and a beta of 1.03. The firm's 50-day moving average is $117.35 and its two-hundred day moving average is $119.03. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $1.25 earnings per share. On average, sell-side analysts anticipate that Revvity will post 4.97 earnings per share for the current year.

Revvity declared that its Board of Directors has initiated a stock buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Institutional Trading of Revvity

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after purchasing an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. grew its position in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the last quarter. Bretton Capital Management LLC purchased a new stake in shares of Revvity during the 3rd quarter valued at about $1,405,000. FMR LLC boosted its holdings in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company's stock valued at $19,872,000 after acquiring an additional 45,040 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Revvity by 942.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company's stock valued at $4,865,000 after acquiring an additional 34,428 shares during the last quarter. 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.