Revvity (NYSE:RVTY) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Revvity to Buy from Hold. Overall analyst sentiment remains more cautious: six analysts rate the stock Buy and 13 Hold, with an average price target of $133.86.
• Revvity reported quarterly EPS of $1.38, beating the $1.30 consensus, and revenue of $728.9 million versus expectations of $694.7 million. Revenue rose 4.3% year over year.
• Company insiders sold 9,045 shares over the past 90 days, worth approximately $1.28 million.

Revvity (NYSE:RVTY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on RVTY. William Blair started coverage on Revvity in a research note on Monday, October 5th. They issued an "outperform" rating for the company. Cfra upgraded Revvity from a "hold" rating to a "buy" rating in a report on Wednesday, November 4th. Evercore reissued an "outperform" rating on shares of Revvity in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Revvity from $155.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. Finally, UBS Group began coverage on shares of Revvity in a report on Wednesday, September 9th. They issued a "neutral" rating and a $140.00 price objective for the company. Six analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $133.86.

Revvity Price Performance

RVTY stock opened at $154.60 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.65 and a quick ratio of 2.10. The business has a 50 day simple moving average of $150.48 and a 200-day simple moving average of $114.30. The firm has a market capitalization of $17.26 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 2.75 and a beta of 1.08. Revvity has a 1 year low of $81.22 and a 1 year high of $171.74.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.30 by $0.08. The firm had revenue of $728.90 million during the quarter, compared to analysts' expectations of $694.73 million. Revvity had a return on equity of 8.64% and a net margin of 8.61%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. Equities research analysts anticipate that Revvity will post 5.42 earnings per share for the current fiscal year.

Insider Activity

In other Revvity news, insider Maxwell Krakowiak sold 1,631 shares of Revvity stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $144.53, for a total transaction of $235,728.43. Following the completion of the sale, the insider directly owned 14,781 shares in the company, valued at $2,136,297.93. This trade represents a 9.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder Vohra sold 7,330 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the completion of the sale, the insider directly owned 6,635 shares in the company, valued at $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,045 shares of company stock valued at $1,281,439. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Revvity

Institutional investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its holdings in Revvity by 3.1% in the first quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company's stock valued at $771,044,000 after acquiring an additional 265,204 shares in the last quarter. Jupiter Topco LLC purchased a new position in Revvity in the second quarter worth approximately $961,017,000. Janus Henderson Group PLC grew its holdings in Revvity by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company's stock worth $731,386,000 after acquiring an additional 186,956 shares in the last quarter. BlackRock Inc. acquired a new position in Revvity during the 2nd quarter worth approximately $852,070,000. Finally, State Street Corp grew its holdings in Revvity by 0.6% during the 3rd quarter. State Street Corp now owns 4,370,897 shares of the company's stock worth $668,266,000 after acquiring an additional 28,158 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

About Revvity

Revvity, Inc. develops and supplies products and services for life sciences research and clinical diagnostics. Its offerings include instruments, reagents, software and related services used by pharmaceutical and biotechnology companies, academic and government research institutions, hospitals and clinical laboratories. The company's work spans areas such as drug discovery and development, genetic testing, newborn screening and other diagnostic applications. Its technologies help researchers and healthcare providers analyze biological samples and generate information used in research and patient care.

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