Brokerages Set Revvity, Inc. (NYSE:RVTY) Target Price at $130.50

Shares of Revvity, Inc. (NYSE:RVTY) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $125.64.

A number of research firms have weighed in on RVTY. Raymond James reissued an “outperform” rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a research note on Tuesday. Wells Fargo & Company dropped their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. UBS Group upgraded Revvity from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $145.00 to $115.00 in a report on Thursday. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Robert W. Baird decreased their target price on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday.

Revvity Stock Down 0.5 %

Shares of RVTY opened at $92.95 on Friday. The stock has a 50 day moving average price of $103.23 and a 200 day moving average price of $112.33. Revvity has a one year low of $88.53 and a one year high of $129.50. 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 stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 3.82 and a beta of 1.07.

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

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.

Institutional Trading of Revvity

Several hedge funds have recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV lifted its holdings in Revvity by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company’s stock worth $1,682,000 after buying an additional 91 shares in the last quarter. Quarry LP raised its stake in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC grew its stake in Revvity by 4.6% during 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 increased its holdings in Revvity by 6.8% during the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock worth $186,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds 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.