Revvity (NYSE:RVTY) Given "Outperform" Rating at Raymond James

Revvity (NYSE:RVTY - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Raymond James in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $120.00 price objective on the stock, down from their prior price objective of $145.00. Raymond James' target price points to a potential upside of 27.11% from the stock's previous close.

A number of other equities analysts have also commented on the stock. KeyCorp increased their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Robert W. Baird reduced their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Barclays decreased their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Revvity has a consensus rating of "Moderate Buy" and an average target price of $126.58.

Revvity Price Performance

Shares of Revvity stock traded down $0.65 on Tuesday, reaching $94.41. The stock had a trading volume of 467,496 shares, compared to its average volume of 917,304. The business's 50 day moving average is $104.47 and its two-hundred day moving average is $112.80. The company has a market cap of $11.34 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity has a 1 year low of $88.53 and a 1 year high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the business's 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 transaction, the insider now owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RVTY. T. Rowe Price Investment Management Inc. boosted its holdings in Revvity by 16.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock valued at $2,317,170,000 after acquiring an additional 2,969,326 shares during the period. EdgePoint Investment Group Inc. lifted its position in shares of Revvity by 51.1% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after purchasing an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock valued at $851,764,000 after purchasing an additional 1,151,821 shares during the period. Norges Bank bought a new position in shares of Revvity in the fourth quarter worth about $127,801,000. Finally, GAMMA Investing LLC increased its stake in Revvity by 15,023.0% in the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after buying an additional 285,137 shares during the period. 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.

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