Brokerages Set Revvity Inc. (NYSE:RVTY) Price Target at $120.07

Shares of Revvity Inc. (NYSE:RVTY) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $120.0714.

RVTY has been the topic of several recent research reports. Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Stifel Nicolaus lowered their price target on shares of Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Bank of America lowered their price target on shares of Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Evercore ISI lowered their price target on shares of Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th.

Institutional Investors Weigh In On Revvity

Several hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Revvity by 8.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock worth $2,382,163,000 after acquiring an additional 1,754,403 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Revvity by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company’s stock worth $1,521,705,000 after purchasing an additional 92,638 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 1,932,314 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Revvity by 26.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock worth $656,696,000 after purchasing an additional 1,428,813 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Revvity by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock worth $709,725,000 after purchasing an additional 23,650 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

NYSE RVTY opened at $90.21 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The stock’s fifty day moving average price is $94.02 and its 200 day moving average price is $97.76. Revvity has a 1 year low of $85.12 and a 1 year high of $129.50. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.42 and a beta of 0.94.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The firm had revenue of $720.28 million for the quarter, compared to the consensus estimate of $711.26 million. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities research analysts forecast that Revvity will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity’s dividend payout ratio is presently 11.86%.

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.