The Goldman Sachs Group Cuts Revvity (NYSE:RVTY) Price Target to $125.00

Revvity (NYSE:RVTY - Get Free Report) had its price objective cut by equities researchers at The Goldman Sachs Group from $140.00 to $125.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 30.98% from the stock's current price.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday. Robert W. Baird lowered their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a research report on Tuesday. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revvity has an average rating of "Moderate Buy" and an average target price of $126.46.

Revvity Price Performance

Shares of NYSE:RVTY traded up $0.38 during midday trading on Tuesday, reaching $95.44. 778,027 shares of the company's stock were exchanged, compared to its average volume of 918,401. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm has a market capitalization of $11.47 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity has a 12 month low of $88.53 and a 12 month high of $129.50. The company's 50 day simple moving average is $104.47 and its two-hundred day simple moving average is $112.80.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts expect that Revvity will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated 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. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.68% of the company's stock.

Institutional Trading of Revvity

A number of hedge funds have recently modified their holdings of RVTY. Nissay Asset Management Corp Japan ADV raised its holdings in Revvity by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after acquiring an additional 91 shares during the period. Quarry LP increased its position in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after buying an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after purchasing an additional 104 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Revvity by 6.8% in the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company's stock valued at $186,000 after purchasing an additional 106 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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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