Revvity, Inc. (NYSE:RVTY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Revvity, Inc. (NYSE:RVTY) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $125.64.

Several research analysts recently weighed in on RVTY shares. Barclays cut their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company cut their price objective on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Raymond James reiterated an “outperform” rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Finally, KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd.

Revvity Price Performance

Revvity stock opened at $94.31 on Tuesday. Revvity has a 52 week low of $88.53 and a 52 week high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $98.41 and its 200 day simple moving average is $110.06. The firm has a market capitalization of $11.12 billion, a PE ratio of 42.67, a P/E/G ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY) last announced its 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 firm had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio (DPR) is presently 11.91%.

Institutional Trading of Revvity

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. boosted its holdings in Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 259 shares during the period. Optiver Holding B.V. purchased a new position in Revvity in the 4th quarter worth approximately $33,000. Quarry LP boosted its holdings in Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after acquiring an additional 95 shares during the period. Millstone Evans Group LLC purchased a new position in Revvity in the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Revvity in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.