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

Revvity (NYSE:RVTY - Get Free Report) had its price objective raised by equities researchers at Barclays from $135.00 to $140.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 17.48% from the company's current price.

A number of other research firms also recently issued reports on RVTY. 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 note on Friday, December 13th. Raymond James reissued an "outperform" rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday. KeyCorp upped their price target on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday. Robert W. Baird raised their price objective on Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Finally, TD Cowen upped their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Four 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 company's stock. Based on data from MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

Revvity Price Performance

NYSE RVTY traded down $3.20 during trading hours on Monday, hitting $119.17. The company had a trading volume of 942,893 shares, compared to its average volume of 890,559. The firm has a 50 day simple moving average of $117.35 and a 200 day simple moving average of $119.03. 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 52 week low of $97.32 and a 52 week high of $129.50. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results 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 prior year, the company earned $1.25 EPS. Equities research analysts expect that Revvity will post 4.97 earnings per share for the current year.

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on 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 completion of the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Revvity

A number of institutional investors have recently modified their holdings of the company. Arizona State Retirement System lifted its stake in shares of Revvity by 1.3% during the fourth quarter. Arizona State Retirement System now owns 35,823 shares of the company's stock worth $3,998,000 after buying an additional 470 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Revvity by 12,298.3% in the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company's stock worth $21,850,000 after purchasing an additional 194,190 shares during the last quarter. Assetmark Inc. boosted its position in Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after buying an additional 259 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after buying an additional 10,390 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Revvity by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 843,145 shares of the company's stock valued at $94,103,000 after purchasing an additional 12,657 shares during the period. 86.65% of the stock is currently owned by 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.