Robert W. Baird Cuts Revvity (NYSE:RVTY) Price Target to $125.00

Revvity (NYSE:RVTY) had its price target reduced by Robert W. Baird from $127.00 to $125.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also commented on the company. Barclays lowered their price target on Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.64.

Revvity Trading Down 0.5 %

RVTY stock opened at $92.95 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a market capitalization of $11.17 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company’s 50 day moving average price is $103.23 and its two-hundred day moving average price is $112.33. Revvity has a one year low of $88.53 and a one year high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business had revenue of $664.76 million during the quarter, compared to analysts’ expectations of $662.30 million. During the same quarter in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio (DPR) is 11.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RVTY. T. Rowe Price Investment Management Inc. lifted its position in Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after acquiring an additional 2,969,326 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Revvity by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after purchasing an additional 1,151,821 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Revvity by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after buying an additional 23,650 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after buying an additional 1,372,456 shares in the last quarter. Institutional investors 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.