Raymond James Reaffirms Outperform Rating for Revvity (NYSE:RVTY)

Raymond James reiterated their outperform rating on shares of Revvity (NYSE:RVTY - Free Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $120.00 price objective on the stock, down from their previous price objective of $145.00.

Several other research firms have also weighed in on RVTY. Robert W. Baird reduced their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. KeyCorp upped their target price on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Barclays reduced their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Four investment 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.64.

Revvity Price Performance

Revvity stock traded up $1.14 during midday trading on Tuesday, hitting $94.04. The company's stock had a trading volume of 944,884 shares, compared to its average volume of 931,013. Revvity has a 12 month low of $88.53 and a 12 month high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $11.30 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The stock's 50-day moving average price is $102.80 and its 200-day moving average price is $112.07.

Revvity (NYSE:RVTY - Get Free Report) last released its 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. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Analysts anticipate that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio is currently 11.91%.

Hedge Funds Weigh In On Revvity

A number of hedge funds have recently bought and sold shares of RVTY. Assetmark Inc. grew 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 purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Revvity during the fourth quarter worth approximately $33,000. Quarry LP increased its stake in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after acquiring an additional 95 shares during the period. Millstone Evans Group LLC acquired a new position in Revvity in the 4th quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Revvity during the 4th quarter valued at $41,000. 86.65% of the stock is owned by institutional investors.

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.