Stifel Nicolaus Has Lowered Expectations for Revvity (NYSE:RVTY) Stock Price

Key Points

• Stifel Nicolaus has lowered its price target for Revvity (NYSE:RVTY) from $120.00 to $110.00, maintaining a "hold" rating, which indicates a potential upside of 14.40% from the current price.
• Other analysts have also adjusted their price targets, with Barclays dropping theirs to $110.00 and UBS lowering it to $115.00, while the consensus rating for the stock remains a "Moderate Buy."
• Revvity's recent quarterly earnings report showed a net margin of 10.35% and revenue growth of 4.1% year-over-year, exceeding analysts' expectations.

Revvity (NYSE:RVTY - Free Report) had its price objective decreased by Stifel Nicolaus from $120.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

RVTY has been the topic of a number of other reports. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Evercore ISI cut their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Robert W. Baird cut their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Bank of America cut their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Barclays cut their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.07.

Revvity Stock Up 0.3%

RVTY stock traded up $0.30 during trading on Tuesday, reaching $88.20. 1,601,103 shares of the stock were exchanged, compared to its average volume of 1,190,950. The firm's 50 day moving average is $95.54 and its 200 day moving average is $102.74. Revvity has a twelve month low of $85.80 and a twelve 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. The firm has a market cap of $10.40 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The business had revenue of $720.28 million for the quarter, compared to the consensus estimate of $711.26 million. During the same period in the prior year, the business earned $1.22 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Revvity will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's payout ratio is 11.86%.

Institutional Investors Weigh In On Revvity

Hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Revvity by 8.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after purchasing an additional 1,754,403 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Revvity by 0.6% during the first quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock worth $1,521,705,000 after acquiring an additional 92,638 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Revvity by 25.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after acquiring an additional 1,932,314 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Revvity by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after acquiring an additional 23,650 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Revvity by 32.1% during the first quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company's stock worth $567,178,000 after acquiring an additional 1,302,616 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

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.