JPMorgan Chase & Co. Increases Revvity (NYSE:RVTY) Price Target to $120.00

Revvity (NYSE:RVTY) had its price objective hoisted by JPMorgan Chase & Co. from $105.00 to $120.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities analysts have also commented on the stock. Leerink Partnrs raised shares of Revvity to a strong-buy rating in a research report on Monday, July 8th. Robert W. Baird raised their price target on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. SVB Leerink began coverage on shares of Revvity in a research report on Monday, July 8th. They set an outperform rating and a $125.00 price target for the company. Bank of America raised their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a neutral rating in a research report on Tuesday. Finally, Barclays raised their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an equal weight rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity has a consensus rating of Moderate Buy and a consensus price target of $123.81.

Revvity Stock Down 0.5 %

NYSE:RVTY opened at $125.02 on Tuesday. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $128.15. The stock has a market capitalization of $15.43 billion, a P/E ratio of 103.32, a P/E/G ratio of 2.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. The company’s 50-day simple moving average is $109.89 and its 200-day simple moving average is $106.94.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. On average, equities analysts anticipate that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction on Friday, June 7th. The stock was 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 in the company, valued at approximately $4,075,974. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Several institutional investors and hedge funds have recently bought and sold shares of RVTY. Capital Research Global Investors purchased a new stake in Revvity during the fourth quarter worth about $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Revvity during the fourth quarter worth about $188,368,000. Norges Bank acquired a new position in shares of Revvity during the fourth quarter worth about $129,483,000. Northern Trust Corp acquired a new position in shares of Revvity during the fourth quarter worth about $127,401,000. Finally, Dimensional Fund Advisors LP acquired a new position in Revvity in the fourth quarter valued at approximately $112,037,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.