Revvity, Inc. (NYSE:RVTY) Receives $118.91 Average Target Price from Analysts

Revvity, Inc. (NYSE:RVTY) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $118.91.

RVTY has been the subject of several research reports. Raymond James boosted their price target on Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Barclays boosted their price objective on Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. Finally, UBS Group lowered Revvity from a “buy” rating to a “neutral” rating and upped their price target for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th.

Revvity Price Performance

Shares of NYSE RVTY opened at $100.54 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $136.89. The company has a market cap of $12.42 billion, a PE ratio of 18.28, a P/E/G ratio of 2.66 and a beta of 1.09. The business has a 50-day simple moving average of $104.91 and a two-hundred day simple moving average of $101.70.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The company had revenue of $695.90 million during the quarter. As a group, equities analysts expect that Revvity will post 4.65 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio (DPR) is presently 5.09%.

Insiders Place Their Bets

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revvity

Institutional investors have recently added to or reduced their stakes in the business. Artemis Investment Management LLP boosted its holdings in Revvity by 80.5% in the first quarter. Artemis Investment Management LLP now owns 88,718 shares of the company’s stock valued at $9,311,000 after purchasing an additional 39,573 shares during the last quarter. RDA Financial Network acquired a new stake in Revvity during the first quarter valued at approximately $322,000. Gulf International Bank UK Ltd raised its stake in Revvity by 3.8% during the first quarter. Gulf International Bank UK Ltd now owns 10,795 shares of the company’s stock valued at $1,133,000 after buying an additional 400 shares in the last quarter. Triangle Securities Wealth Management raised its stake in Revvity by 20.6% during the first quarter. Triangle Securities Wealth Management now owns 2,874 shares of the company’s stock valued at $302,000 after buying an additional 490 shares in the last quarter. Finally, Polianta Ltd acquired a new stake in shares of Revvity during the 1st quarter worth approximately $1,218,000. 86.65% of the stock is currently 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.