Revvity (NYSE:RVTY) Price Target Raised to $110.00

Revvity (NYSE:RVTY) had its target price increased by Wells Fargo & Company from $107.00 to $110.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently commented on RVTY. Barclays boosted their price target on shares of Revvity from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group boosted their target price on Revvity from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th. Robert W. Baird lifted their price target on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Guggenheim assumed coverage on Revvity in a report on Wednesday, October 15th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.67.

Revvity Trading Down 4.3%

NYSE:RVTY opened at $99.32 on Tuesday. The stock has a market cap of $11.26 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.20 and a beta of 1.07. Revvity has a fifty-two week low of $81.36 and a fifty-two week high of $123.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.68 and a quick ratio of 1.44. The stock’s 50-day moving average is $103.86 and its two-hundred day moving average is $95.65.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, February 2nd. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Revvity had a net margin of 8.45% and a return on equity of 7.92%. The business had revenue of $772.06 million during the quarter, compared to analysts’ expectations of $759.81 million. During the same period last year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. As a group, equities research analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity announced that its board has authorized a stock buyback program on Monday, October 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 13.46%.

Hedge Funds Weigh In On Revvity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 26.3% in the third quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock worth $751,536,000 after buying an additional 1,784,620 shares during the last quarter. Invesco Ltd. grew its stake in Revvity by 15.7% in the 3rd quarter. Invesco Ltd. now owns 2,553,515 shares of the company’s stock valued at $223,816,000 after buying an additional 346,313 shares during the last quarter. UBS Group AG raised its holdings in Revvity by 22.3% in the 3rd quarter. UBS Group AG now owns 2,179,505 shares of the company’s stock worth $191,034,000 after acquiring an additional 397,160 shares during the period. Dimensional Fund Advisors LP lifted its position in Revvity by 39.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock worth $186,307,000 after acquiring an additional 596,436 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Revvity by 127.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock valued at $171,921,000 after acquiring an additional 980,142 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.