Revvity (NYSE:RVTY) PT Raised to $130.00 at TD Cowen

Revvity (NYSE:RVTY) had its price target increased by TD Cowen from $123.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on RVTY. Stifel Nicolaus boosted their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a hold rating in a research report on Friday, February 2nd. Evercore ISI raised Revvity from an in-line rating to an outperform rating and lifted their price objective for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. KeyCorp raised their target price on Revvity from $110.00 to $126.00 and gave the company an overweight rating in a research note on Friday, February 2nd. UBS Group downgraded Revvity from a buy rating to a neutral rating and increased their price objective for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Finally, Barclays upped their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an equal weight rating in a research report on Thursday, January 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $118.17.

Revvity Price Performance

RVTY stock opened at $100.61 on Tuesday. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 83.15, a PEG ratio of 2.67 and a beta of 1.09. The firm’s 50-day moving average price is $104.56 and its two-hundred day moving average price is $101.28. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. Revvity has a 12-month low of $79.50 and a 12-month high of $132.54.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. Revvity’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, equities analysts predict that Revvity will post 4.65 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, July 19th. Revvity’s payout ratio is currently 23.14%.

Insider Buying and Selling at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Revvity

Hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new stake in shares of Revvity in the fourth quarter worth $25,000. Gladius Capital Management LP grew its stake in shares of Revvity by 84.1% during the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after purchasing an additional 106 shares during the period. CENTRAL TRUST Co bought a new stake in shares of Revvity during the 4th quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Revvity during the 4th quarter valued at about $27,000. Finally, ORG Partners LLC bought a new position in shares of Revvity in the 4th quarter worth approximately $32,000. 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.