Revvity (NYSE:RVTY) Given New $110.00 Price Target at Bank of America

Revvity (NYSE:RVTY - Get Free Report) had its price objective lowered by analysts at Bank of America from $116.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 12.50% from the company's current price.

Several other brokerages have also recently issued reports on RVTY. Barclays decreased their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, The Goldman Sachs Group decreased their price target on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $123.64.

Revvity Price Performance

Shares of Revvity stock traded down $1.01 on Thursday, reaching $97.78. The company's stock had a trading volume of 1,331,016 shares, compared to its average volume of 968,598. The company has a market capitalization of $11.53 billion, a P/E ratio of 19.84, a PEG ratio of 2.47 and a beta of 0.97. Revvity has a 52-week low of $87.70 and a 52-week high of $129.50. The stock has a 50-day moving average price of $93.36 and a 200-day moving average price of $105.37. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 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 firm had revenue of $664.76 million during the quarter, compared to analysts' expectations of $662.30 million. During the same period in the previous year, the business earned $0.98 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Revvity will post 4.94 EPS for the current year.

Hedge Funds Weigh In On Revvity

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new position in shares of Revvity during the 4th quarter worth $447,000. Victory Capital Management Inc. boosted its position in shares of Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after buying an additional 10,390 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Revvity in the 1st quarter worth about $210,000. Farther Finance Advisors LLC boosted its position in shares of Revvity by 21.2% in the 1st quarter. Farther Finance Advisors LLC now owns 796 shares of the company's stock worth $83,000 after buying an additional 139 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Revvity by 7.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 27,921 shares of the company's stock worth $2,954,000 after buying an additional 1,992 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.