Revvity Inc. (NYSE:RVTY) Receives $125.64 Average PT from Analysts

Shares of Revvity Inc. (NYSE:RVTY) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $125.64.

Several research analysts recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th.

Revvity Stock Performance

RVTY opened at $94.96 on Friday. The company has a market cap of $11.19 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The stock has a 50-day moving average of $93.05 and a 200-day moving average of $106.13. Revvity has a 52-week low of $87.70 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the company posted $0.98 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.

Institutional Investors Weigh In On Revvity

A number of hedge funds have recently added to or reduced their stakes in RVTY. T. Rowe Price Investment Management Inc. grew 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 worth $2,317,170,000 after acquiring an additional 2,969,326 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Revvity by 25.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock worth $1,011,863,000 after acquiring an additional 1,932,314 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Revvity by 51.1% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after acquiring an additional 1,372,456 shares during the last quarter. Norges Bank bought a new stake in Revvity during the 4th quarter worth about $127,801,000. Finally, GAMMA Investing LLC boosted its stake in shares of Revvity by 15,023.0% in the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock valued at $30,368,000 after purchasing an additional 285,137 shares during the last quarter. 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.