Revvity (NYSE:RVTY) Price Target Raised to $172.00

Revvity (NYSE:RVTY) had its price target lifted by Royal Bank Of Canada from $135.00 to $172.00 in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

RVTY has been the topic of several other reports. Bank of America reaffirmed a “neutral” rating on shares of Revvity in a research report on Wednesday. TD Cowen increased their price objective on Revvity from $130.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. KeyCorp raised their price objective on shares of Revvity from $125.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. UBS Group began coverage on shares of Revvity in a research report on Wednesday, September 9th. They set a “neutral” rating and a $140.00 target price on the stock. Finally, William Blair began coverage on shares of Revvity in a research note on Monday, October 5th. They set an “outperform” rating for the company. Six research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Revvity currently has an average rating of “Hold” and an average target price of $133.86.

Revvity Stock Performance

Shares of NYSE RVTY traded up $4.49 during trading hours on Wednesday, hitting $155.32. 1,683,252 shares of the company’s stock were exchanged, compared to its average volume of 1,785,214. Revvity has a 1-year low of $81.22 and a 1-year high of $171.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.80 and a quick ratio of 1.50. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 2.76 and a beta of 1.08. The company’s 50-day moving average price is $147.60 and its 200-day moving average price is $113.25.

Revvity (NYSE:RVTY) last announced its earnings results on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. The firm had revenue of $728.90 million during the quarter, compared to the consensus estimate of $694.73 million. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 EPS. On average, sell-side analysts expect that Revvity will post 5.42 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, January 22nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Revvity’s dividend payout ratio (DPR) is 12.39%.

Insider Activity

In other Revvity news, insider Maxwell Krakowiak sold 1,631 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the sale, the insider owned 14,781 shares in the company, valued at approximately $2,136,297.93. This trade represents a 9.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 7,330 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the completion of the transaction, the insider directly owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,045 shares of company stock worth $1,281,439 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Revvity

Several institutional investors and hedge funds have recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. raised its stake in shares of Revvity by 3.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company’s stock valued at $771,044,000 after buying an additional 265,204 shares in the last quarter. Jupiter Topco LLC bought a new stake in Revvity in the second quarter valued at about $961,017,000. Janus Henderson Group PLC increased its stake in Revvity by 2.3% in the first quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company’s stock valued at $731,386,000 after acquiring an additional 186,956 shares during the period. BlackRock Inc. acquired a new position in Revvity in the second quarter worth about $852,070,000. Finally, State Street Corp raised its position in Revvity by 0.8% in the second quarter. State Street Corp now owns 4,342,739 shares of the company’s stock worth $483,173,000 after purchasing an additional 32,426 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

About Revvity

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.