Analysts Set Revvity Inc. (NYSE:RVTY) PT at $113.91

Revvity Inc. (NYSE:RVTY) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $113.9091.

Several analysts have weighed in on the company. Barclays lifted their price objective on Revvity from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Bank of America cut Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th. Wells Fargo & Company raised their price objective on Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group started coverage on shares of Revvity in a report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 target price on the stock.

Revvity Stock Down 0.1%

Shares of NYSE RVTY opened at $114.60 on Friday. The firm has a fifty day simple moving average of $103.08 and a two-hundred day simple moving average of $95.17. Revvity has a 12 month low of $81.36 and a 12 month high of $128.29. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $12.99 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 3.50 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm had revenue of $698.95 million for the quarter, compared to analyst estimates of $699.75 million. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Revvity will post 4.94 earnings per share for the current year.

Revvity announced that its Board of Directors has authorized a share buyback program on Monday, October 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, April 17th. Revvity’s dividend payout ratio is 14.07%.

Institutional Trading of Revvity

A number of hedge funds have recently made changes to their positions in RVTY. CYBER HORNET ETFs LLC purchased a new position in Revvity during the second quarter valued at $32,000. Cromwell Holdings LLC grew its position in Revvity by 141.4% during the 4th quarter. Cromwell Holdings LLC now owns 338 shares of the company’s stock valued at $33,000 after purchasing an additional 198 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Revvity during the 2nd quarter valued at about $34,000. UMB Bank n.a. raised its holdings in Revvity by 138.8% in the second quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after buying an additional 236 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Revvity by 79.0% in the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after buying an additional 181 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.