Revvity Inc. (NYSE:RVTY) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Revvity Inc. (NYSE:RVTY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $123.07.

Several equities research analysts recently issued reports on the company. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Bank of America dropped their target price on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Wall Street Zen raised Revvity from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group lowered their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th.

Revvity Stock Performance

RVTY traded down $0.34 during trading on Wednesday, reaching $100.32. 911,258 shares of the company were exchanged, compared to its average volume of 973,671. Revvity has a 52 week low of $87.70 and a 52 week high of $129.50. The stock has a market cap of $11.82 billion, a P/E ratio of 42.69, a PEG ratio of 2.49 and a beta of 0.98. The firm has a 50 day moving average of $94.23 and a 200 day moving average of $104.71. The company has a current ratio of 3.58, a quick ratio of 2.99 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (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 company had revenue of $664.76 million during the quarter, compared to analysts' expectations of $662.30 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity's dividend payout ratio is currently 11.91%.

Institutional Trading of Revvity

A number of hedge funds have recently modified their holdings of RVTY. Assetmark Inc. lifted its position in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after buying an additional 259 shares during the period. Optiver Holding B.V. bought a new position in shares of Revvity during the 4th quarter worth approximately $33,000. Quarry LP lifted its position in shares of Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after buying an additional 95 shares during the period. Millstone Evans Group LLC bought a new position in shares of Revvity during the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Revvity during the 4th quarter worth approximately $41,000. Institutional investors 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.