Revvity (NYSE:RVTY) Given New $145.00 Price Target at Sanford C. Bernstein

Revvity (NYSE:RVTY - Free Report) had its target price cut by Sanford C. Bernstein from $150.00 to $145.00 in a research report released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

RVTY has been the topic of several other research reports. Jefferies Financial Group increased their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Bank of America increased their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Finally, Leerink Partnrs raised shares of Revvity to a "strong-buy" rating in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.07.

Revvity Trading Up 0.9 %

RVTY traded up $1.14 on Tuesday, hitting $125.96. The company had a trading volume of 837,088 shares, compared to its average volume of 825,612. The firm has a market cap of $15.54 billion, a P/E ratio of 91.28, a PEG ratio of 3.34 and a beta of 1.05. Revvity has a 1 year low of $82.17 and a 1 year high of $128.83. The company's fifty day moving average price is $121.53 and its 200 day moving average price is $114.47. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. As a group, equities analysts expect that Revvity will post 4.75 earnings per share for the current year.

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

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. Revvity's dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares of the company's stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company's stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is owned by company insiders.

Institutional Trading of Revvity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVTY. Private Advisor Group LLC increased its position in Revvity by 95.1% during the 1st quarter. Private Advisor Group LLC now owns 4,440 shares of the company's stock worth $466,000 after purchasing an additional 2,164 shares in the last quarter. BNP Paribas Financial Markets increased its position in Revvity by 68.7% during the 1st quarter. BNP Paribas Financial Markets now owns 185,812 shares of the company's stock worth $19,510,000 after purchasing an additional 75,678 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Revvity by 104.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the company's stock worth $982,000 after purchasing an additional 4,783 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Revvity by 3.6% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company's stock worth $409,000 after purchasing an additional 135 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Revvity by 7.3% in the 1st quarter. Nordea Investment Management AB now owns 8,962 shares of the company's stock valued at $946,000 after buying an additional 607 shares during the period. 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.