TD Cowen Issues Positive Forecast for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY - Get Free Report) had its price objective raised by analysts at TD Cowen from $141.00 to $144.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 14.32% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Leerink Partnrs upgraded Revvity to a "strong-buy" rating in a report on Monday, July 8th. Citigroup lifted their price target on Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Barclays upgraded Revvity from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Revvity currently has an average rating of "Moderate Buy" and a consensus target price of $132.07.

Revvity Price Performance

Shares of NYSE:RVTY traded up $1.14 on Tuesday, reaching $125.96. The company's stock had a trading volume of 837,088 shares, compared to its average volume of 825,612. The company has a 50-day simple moving average of $121.53 and a 200 day simple moving average of $114.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The company 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 52-week low of $82.17 and a 52-week high of $128.83.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.15. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $684.10 million during the quarter, compared to analysts' expectations of $679.66 million. During the same period in the previous year, the company earned $1.18 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Revvity will post 4.75 EPS for the current fiscal year.

Revvity declared that its board has initiated 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 purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revvity

Large investors have recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in Revvity during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock valued at $41,000 after acquiring an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in Revvity during the second quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the 2nd quarter worth approximately $43,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revvity in the first quarter valued at about $48,000. 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.