Brokerages Set Revvity, Inc. (NYSE:RVTY) Target Price at $119.14

Revvity, Inc. (NYSE:RVTY) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $119.14.

Several equities analysts have commented on RVTY shares. SVB Leerink started coverage on shares of Revvity in a research report on Monday, July 8th. They set an “outperform” rating and a $125.00 price objective for the company. TD Cowen increased their price objective on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group started coverage on shares of Revvity in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Barclays lowered their price objective on shares of Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th.

Revvity Price Performance

Shares of NYSE:RVTY opened at $115.15 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.23. The firm has a fifty day moving average price of $108.82 and a 200 day moving average price of $106.46. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $131.96. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 95.17, a P/E/G ratio of 3.00 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the business earned $1.01 earnings per share. Revvity’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Revvity will post 4.64 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is presently 23.14%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC bought a new stake in shares of Revvity in the 2nd quarter valued at about $200,000. Ceredex Value Advisors LLC increased its holdings in shares of Revvity by 2.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after purchasing an additional 23,318 shares in the last quarter. Family Firm Inc. purchased a new stake in Revvity in the 2nd quarter worth $43,000. Arcus Capital Partners LLC purchased a new stake in Revvity in the 2nd quarter worth $790,000. Finally, Nisa Investment Advisors LLC boosted its stake in Revvity by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 78,809 shares of the company’s stock worth $8,264,000 after purchasing an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.