Revvity, Inc. (NYSE:RVTY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Revvity, Inc. (NYSE:RVTY) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $126.00.

RVTY has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target for the company. Leerink Partners started coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 target price for the company. Barclays lifted their target price on Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup lifted their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. acquired a new position in Revvity in the 4th quarter valued at $3,593,000. BNP Paribas Financial Markets acquired a new position in shares of Revvity during the 4th quarter worth $12,039,000. Principal Financial Group Inc. acquired a new position in shares of Revvity during the 4th quarter worth $15,213,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Revvity during the 4th quarter worth $1,160,000. Finally, Commerce Bank acquired a new position in shares of Revvity during the 4th quarter worth $1,136,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Up 1.5 %

RVTY stock opened at $124.59 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $118.46 and a two-hundred day moving average price of $110.36. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 102.97, a P/E/G ratio of 2.87 and a beta of 1.05. Revvity has a twelve month low of $79.50 and a twelve month high of $128.15.

Revvity (NYSE:RVTY) last posted 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 firm had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Analysts anticipate that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. 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 is presently 23.14%.

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.