Revvity, Inc. (NYSE:RVTY) Receives $125.64 Average PT from Brokerages

Shares of Revvity, Inc. (NYSE:RVTY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $125.64.

Several research firms have issued reports on RVTY. Barclays cut their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird decreased their target price 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. Finally, Raymond James reissued an "outperform" rating and set a $120.00 target price (down previously from $145.00) on shares of Revvity in a research report on Tuesday, April 29th.

Institutional Investors Weigh In On Revvity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after buying an additional 259 shares in the last quarter. Optiver Holding B.V. purchased a new position in Revvity in the 4th quarter valued at about $33,000. Quarry LP lifted its stake in Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after buying an additional 95 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Revvity during the fourth quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Revvity during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Down 1.1%

NYSE RVTY traded down $1.01 during trading on Tuesday, reaching $89.47. 1,023,503 shares of the company's stock traded hands, compared to its average volume of 951,592. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The company's 50 day simple moving average is $96.71 and its two-hundred day simple moving average is $109.11. Revvity has a 12-month low of $88.01 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. The company had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. Revvity's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. Revvity's dividend payout ratio is currently 11.91%.

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.