Evercore ISI Lowers Revvity (NYSE:RVTY) Price Target to $106.00

Key Points

• Evercore ISI has reduced the price target for Revvity (NYSE:RVTY) from $108.00 to $106.00, maintaining an "outperform" rating, which indicates a potential upside of 15.52% from the previous close.
• The stock saw a decline of 1.7% during midday trading, reaching $91.76, with a market cap of $10.65 billion and an average rating of "Moderate Buy" from analysts.
• Revvity reported an earnings per share (EPS) of $1.18 for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 4.1%.

Revvity (NYSE:RVTY - Get Free Report) had its target price reduced by stock analysts at Evercore ISI from $108.00 to $106.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price target points to a potential upside of 15.52% from the company's previous close.

A number of other research firms have also recently commented on RVTY. Raymond James Financial reissued an "outperform" rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Bank of America lowered their price target on Revvity from $110.00 to $99.00 and set a "buy" rating on the stock in a report on Monday, September 22nd. Stifel Nicolaus lowered their price target on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Revvity in a report on Saturday, September 27th. Finally, Barclays lowered their price target on Revvity from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $117.93.

Revvity Stock Down 1.7%

RVTY stock traded down $1.62 during midday trading on Tuesday, hitting $91.76. The stock had a trading volume of 534,775 shares, compared to its average volume of 1,190,277. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 3.14 and a beta of 0.98. The business has a 50-day moving average of $88.05 and a two-hundred day moving average of $93.20. Revvity has a 52-week low of $81.36 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75.

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

Hedge Funds Weigh In On Revvity

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Revvity by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after buying an additional 187 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Revvity during the 1st quarter valued at approximately $210,000. Amalgamated Bank grew its holdings in Revvity by 1.0% during the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company's stock valued at $2,516,000 after buying an additional 227 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Revvity by 11.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock valued at $1,417,000 after buying an additional 1,343 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC purchased a new position in Revvity during the 2nd quarter valued at approximately $5,351,000. Hedge funds and other institutional investors 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.

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