Bank of America Cuts Revvity (NYSE:RVTY) Price Target to $99.00

Revvity (NYSE:RVTY) had its target price lowered by Bank of America from $110.00 to $99.00 in a research note published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also commented on RVTY. Stifel Nicolaus decreased their price objective on Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. Evercore ISI decreased their price objective on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.29.

Revvity Stock Down 1.4%

Shares of RVTY opened at $84.53 on Monday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. The business’s fifty day moving average price is $89.38 and its two-hundred day moving average price is $94.71. Revvity has a 52 week low of $81.36 and a 52 week high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, analysts predict that Revvity will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity’s dividend payout ratio (DPR) is presently 11.86%.

Institutional Trading of Revvity

Several hedge funds have recently added to or reduced their stakes in RVTY. CYBER HORNET ETFs LLC acquired a new stake in Revvity during the 2nd quarter worth $32,000. MUFG Securities EMEA plc acquired a new stake in Revvity during the 2nd quarter worth $34,000. UMB Bank n.a. raised its stake in Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after buying an additional 236 shares during the period. CVA Family Office LLC raised its stake in Revvity by 79.0% during the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after buying an additional 181 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new stake in Revvity during the 4th quarter worth $41,000. Institutional investors and hedge funds 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.