Raymond James Financial Reiterates Outperform Rating for Revvity (NYSE:RVTY)

Key Points

• Raymond James Financial has reiterated an "outperform" rating for Revvity (RVTY) and set a target price of $115.00, indicating a potential upside of 19.57% from its current price.
• Other analysts have varied target prices for Revvity, with Barclays at $110.00, UBS at $115.00, and Wells Fargo at $102.00, reflecting mixed sentiment among analysts.
• Revvity's recent quarterly earnings showed an EPS of $1.18, surpassing estimates, with revenue reaching $720.28 million, a 4.1% increase year-over-year.

Revvity (NYSE:RVTY - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Raymond James Financial in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $115.00 price target on the stock, down from their previous price target of $120.00. Raymond James Financial's target price suggests a potential upside of 30.39% from the company's current price.

A number of other research analysts have also issued reports on RVTY. JPMorgan Chase & Co. decreased their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Evercore ISI lowered their price target on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Bank of America lowered their price target on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Robert W. Baird lowered their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Revvity presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Stock Up 0.3%

NYSE:RVTY traded up $0.30 during midday trading on Tuesday, reaching $88.20. The company had a trading volume of 1,601,103 shares, compared to its average volume of 1,190,950. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.43 and a beta of 0.98. The stock's fifty day simple moving average is $95.54 and its 200-day simple moving average is $102.74. Revvity has a 12-month low of $85.80 and a 12-month high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.99 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. Revvity's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.22 earnings per share. On average, sell-side analysts anticipate that Revvity will post 4.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revvity

Several large investors have recently modified their holdings of RVTY. Korea Investment CORP boosted its holdings in shares of Revvity by 74.8% in the fourth quarter. Korea Investment CORP now owns 54,665 shares of the company's stock valued at $6,101,000 after acquiring an additional 23,400 shares during the period. Norges Bank acquired a new position in shares of Revvity in the fourth quarter valued at approximately $127,801,000. Orion Portfolio Solutions LLC increased its holdings in shares of Revvity by 6.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,030 shares of the company's stock valued at $561,000 after purchasing an additional 284 shares during the period. Allstate Corp acquired a new position in shares of Revvity in the fourth quarter valued at approximately $407,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Revvity by 19.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,892 shares of the company's stock valued at $658,000 after purchasing an additional 939 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

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.