Revvity Inc. (NYSE:RVTY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Revvity Inc. (NYSE:RVTY) has received an average recommendation of "Moderate Buy" from 14 brokerages, with a target price of $120.07.
• Recent price adjustments by several analysts include JPMorgan reducing its target price from $120.00 to $100.00, while Goldman Sachs lowered theirs from $140.00 to $125.00.
• Revvity has declared a quarterly dividend of $0.07, which will be paid to investors on November 7th, reflecting an annualized yield of 0.3%.

Revvity Inc. (NYSE:RVTY - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $120.0714.

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a research note on Sunday. Stifel Nicolaus dropped their price objective on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Robert W. Baird decreased their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Barclays lowered their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price target on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th.

Revvity Stock Performance

NYSE RVTY traded down $2.97 on Friday, reaching $85.71. 422,305 shares of the stock were exchanged, compared to its average volume of 1,182,979. Revvity has a one year low of $85.79 and a one year high of $129.50. The firm has a market capitalization of $10.10 billion, a PE ratio of 36.29, a PEG ratio of 2.37 and a beta of 0.91. The company's 50-day simple moving average is $95.42 and its two-hundred day simple moving average is $101.99. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 earnings per share. Analysts expect that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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

Hedge Funds Weigh In On Revvity

Institutional investors have recently bought and sold shares of the business. Optiver Holding B.V. purchased a new stake in shares of Revvity during the 4th quarter valued at about $33,000. Quarry LP grew its position in Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Vermillion Wealth Management Inc. bought a new stake in Revvity during the fourth quarter worth approximately $41,000. UMB Bank n.a. raised its position in Revvity by 138.8% during the second quarter. UMB Bank n.a. now owns 406 shares of the company's stock valued at $39,000 after purchasing an additional 236 shares during the period. Finally, CVA Family Office LLC raised its position in Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company's stock valued at $40,000 after purchasing an additional 181 shares during the period. 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.