Sanford C. Bernstein Issues Pessimistic Forecast for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY) had its price objective decreased by investment analysts at Sanford C. Bernstein from $150.00 to $145.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 15.80% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Finally, Bank of America increased their price target on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.87.

Revvity Trading Up 0.3 %

NYSE RVTY traded up $0.40 during trading on Tuesday, hitting $125.22. The stock had a trading volume of 348,550 shares, compared to its average volume of 823,241. Revvity has a one year low of $82.17 and a one year high of $128.83. The stock has a 50 day simple moving average of $121.46 and a 200 day simple moving average of $114.29. The stock has a market capitalization of $15.44 billion, a price-to-earnings ratio of 90.74, a P/E/G ratio of 3.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same period last year, the company earned $1.18 EPS. Revvity’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Revvity will post 4.75 earnings per share for the current year.

Revvity announced that its Board of Directors has authorized a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company’s 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 directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joel S. Goldberg sold 3,500 shares of the firm’s 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 directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Revvity

Several large investors have recently added to or reduced their stakes in RVTY. Rothschild Investment LLC purchased a new stake in Revvity in the second quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares during the period. Family Firm Inc. purchased a new stake in shares of Revvity in the second quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new stake in Revvity during the second quarter worth about $43,000. Finally, EntryPoint Capital LLC purchased a new position in Revvity during the first quarter valued at approximately $48,000. 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.