Revvity (NYSE:RVTY) Raised to "Buy" at UBS Group

UBS Group upgraded shares of Revvity (NYSE:RVTY - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has $115.00 price target on the stock, down from their prior price target of $145.00.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group reduced their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird reduced their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $125.64.

Revvity Trading Down 1.2 %

Shares of RVTY traded down $1.09 during mid-day trading on Thursday, reaching $92.90. 705,281 shares of the company's stock traded hands, compared to its average volume of 930,110. Revvity has a 12 month low of $88.53 and a 12 month high of $129.50. The stock has a market cap of $11.16 billion, a P/E ratio of 42.03, a P/E/G ratio of 3.82 and a beta of 1.07. The stock's 50-day moving average is $102.80 and its two-hundred day moving average is $112.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) 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 net margin of 9.81% and a return on equity of 7.68%. Revvity's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Research analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio (DPR) is 11.91%.

Institutional Trading of Revvity

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Revvity by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock valued at $7,841,000 after purchasing an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Revvity by 13.7% during the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after purchasing an additional 41,497 shares during the period. Contravisory Investment Management Inc. raised its stake in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Janney Montgomery Scott LLC increased its stake in Revvity by 87.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock valued at $881,000 after buying an additional 3,672 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revvity by 41.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company's stock worth $1,352,000 after purchasing an additional 3,542 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.