Bank of America Lowers Revvity (NYSE:RVTY) Price Target to $110.00

Revvity (NYSE:RVTY - Get Free Report) had its price target reduced by investment analysts at Bank of America from $116.00 to $110.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 11.79% from the stock's current price.

A number of other analysts have also weighed in on the stock. Barclays lowered their price objective on shares of 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 decreased their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $120.00 price target (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group cut their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and a consensus price target of $123.64.

Revvity Trading Up 0.7%

Revvity stock traded up $0.70 during mid-day trading on Thursday, hitting $98.40. The company's stock had a trading volume of 661,127 shares, compared to its average volume of 967,066. The business has a 50 day moving average price of $93.10 and a 200-day moving average price of $105.73. Revvity has a 12 month low of $87.70 and a 12 month high of $129.50. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. During the same period in the previous year, the business posted $0.98 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts forecast that Revvity will post 4.94 EPS for the current year.

Institutional Trading of Revvity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. acquired a new position in Revvity during the 4th quarter worth $33,000. Quarry LP lifted its stake in shares of Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the period. Millstone Evans Group LLC acquired a new stake in Revvity during the 4th quarter worth $38,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Revvity during the fourth quarter worth $41,000. Institutional investors and hedge funds own 86.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.