Brokerages Set Revvity Inc. (NYSE:RVTY) Price Target at $114.75

Shares of Revvity Inc. (NYSE:RVTY) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.75.

Several research firms have recently issued reports on RVTY. Weiss Ratings lowered Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Evercore ISI restated an “outperform” rating and set a $108.00 price target on shares of Revvity in a report on Monday, October 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price objective (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Robert W. Baird boosted their price objective on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd.

Revvity Price Performance

Revvity stock opened at $93.35 on Tuesday. Revvity has a 52-week low of $81.36 and a 52-week high of $128.29. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $90.39 and its 200 day moving average is $92.28. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 3.15 and a beta of 1.01.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm had revenue of $698.95 million for the quarter, compared to the consensus estimate of $699.75 million. During the same period in the previous year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Sell-side analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has initiated a stock buyback program on Monday, October 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 16th. Revvity’s dividend payout ratio is 14.07%.

Institutional Investors Weigh In On Revvity

Hedge funds and other institutional investors have recently modified their holdings of the business. Entropy Technologies LP boosted its holdings in Revvity by 199.8% during the 3rd quarter. Entropy Technologies LP now owns 20,460 shares of the company’s stock valued at $1,793,000 after acquiring an additional 13,635 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Revvity during the third quarter worth $294,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Revvity by 430.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 256,317 shares of the company’s stock worth $22,466,000 after purchasing an additional 208,028 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Revvity by 15.7% during the third quarter. Invesco Ltd. now owns 2,553,515 shares of the company’s stock valued at $223,816,000 after purchasing an additional 346,313 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Revvity by 190.7% in the third quarter. Sei Investments Co. now owns 71,718 shares of the company’s stock worth $6,286,000 after purchasing an additional 47,049 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.