Bank of America Lowers Revvity (NYSE:RVTY) Price Target to $99.00

Key Points

• Bank of America has reduced its price target for Revvity (NYSE:RVTY) from $110.00 to $99.00, maintaining a "buy" rating which indicates a potential upside of 14.54% from its previous close.
• Multiple analysts have revised their projections, with Evercore ISI and Stifel Nicolaus also lowering their price targets, while the average consensus price target for Revvity now stands at $119.29.
• Revvity recently reported earnings of $1.18 EPS, surpassing estimates, and revealed a revenue of $720.28 million for the quarter, reflecting a year-over-year growth of 4.1%.

Revvity (NYSE:RVTY - Free Report) had its target price trimmed by Bank of America from $110.00 to $99.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on RVTY. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Stifel Nicolaus decreased their price objective on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Evercore ISI decreased their price objective on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (down from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.29.

Revvity Stock Up 0.6%

NYSE:RVTY traded up $0.56 on Monday, reaching $86.83. The stock had a trading volume of 91,434 shares, compared to its average volume of 1,192,953. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $89.79 and a 200 day moving average of $94.85. The stock has a market cap of $10.08 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Revvity has a 12-month low of $81.36 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. During the same quarter last year, the company posted $1.22 earnings per share. The company's quarterly revenue was up 4.1% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, research analysts predict that Revvity will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is presently 11.86%.

Hedge Funds Weigh In On Revvity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVTY. Price T Rowe Associates Inc. MD boosted its stake in Revvity by 25.3% in 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 period. T. Rowe Price Investment Management Inc. boosted its stake in Revvity by 8.5% in 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 purchasing an additional 1,754,403 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Revvity by 26.7% in 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 period. Norges Bank acquired a new position in Revvity in the 2nd quarter worth approximately $124,574,000. Finally, Invesco Ltd. boosted its stake in Revvity by 25.8% in the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company's stock worth $213,481,000 after purchasing an additional 452,343 shares during the period. Institutional investors and hedge funds 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.