JPMorgan Chase & Co. Lowers Revvity (NYSE:RVTY) Price Target to $100.00

Revvity (NYSE:RVTY - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $120.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 5.92% from the company's current price.

A number of other research analysts have also weighed in on RVTY. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. Robert W. Baird cut their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday. Raymond James restated an "outperform" rating and set a $120.00 target price (down from $145.00) on shares of Revvity in a research report on Tuesday. Finally, Barclays cut their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $126.58.

Revvity Stock Down 0.7 %

Shares of RVTY stock traded down $0.65 during trading hours on Tuesday, reaching $94.41. 467,496 shares of the company's stock were exchanged, compared to its average volume of 917,304. The stock has a market cap of $11.34 billion, a PE ratio of 42.74, a PEG ratio of 3.82 and a beta of 1.07. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average price is $104.47 and its two-hundred day moving average price is $112.80. Revvity has a 1 year low of $88.53 and a 1 year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts predict that Revvity will post 4.94 EPS for the current year.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake in Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after purchasing an additional 2,969,326 shares in the last quarter. Vanguard Group Inc. grew its holdings in Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after buying an additional 156,679 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Revvity by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after acquiring an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its position in shares of Revvity by 51.1% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after acquiring an additional 1,372,456 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

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.

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