Revvity, Inc. (NYSE:RVTY) Receives $126.00 Consensus Target Price from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have earned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $126.00.

Several brokerages recently weighed in on RVTY. Leerink Partners began coverage on Revvity in a report on Monday, July 8th. They set an “outperform” rating and a $125.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. TD Cowen increased their price objective on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group increased their price objective on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Revvity during the 4th quarter valued at about $3,593,000. BNP Paribas Financial Markets purchased a new stake in shares of Revvity during the 4th quarter valued at about $12,039,000. Principal Financial Group Inc. purchased a new stake in Revvity during the 4th quarter worth approximately $15,213,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Revvity during the 4th quarter worth approximately $1,160,000. Finally, Commerce Bank bought a new stake in shares of Revvity in the 4th quarter valued at approximately $1,136,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of NYSE RVTY opened at $122.76 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The stock has a fifty day moving average price of $117.73 and a 200 day moving average price of $110.15. Revvity has a 1-year low of $79.50 and a 1-year high of $128.15. The company has a market cap of $15.15 billion, a PE ratio of 101.45, a P/E/G ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same period last year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Revvity will post 4.75 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio is currently 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.