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

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

RVTY has been the subject of a number of analyst reports. Raymond James reiterated an “outperform” rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and cut their price target for the company from $145.00 to $115.00 in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on shares of Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Wells Fargo & Company cut their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RVTY. Assetmark Inc. boosted its position in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after acquiring an additional 259 shares during the period. Optiver Holding B.V. acquired a new position in Revvity during the 4th quarter valued at $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 valued at $34,000 after purchasing an additional 95 shares during the period. Millstone Evans Group LLC acquired a new stake in Revvity in the 4th quarter worth $38,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Revvity in the 4th quarter worth $41,000. 86.65% of the stock is owned by institutional investors.

Revvity Price Performance

Shares of NYSE:RVTY opened at $93.47 on Friday. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 3.82 and a beta of 0.97. Revvity has a 1 year low of $87.70 and a 1 year high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $93.20 and a 200 day simple moving average of $106.86.

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

Revvity Announces Dividend

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 paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.30%. Revvity’s payout ratio is 11.91%.

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.