Revvity (NYSE:RVTY) Price Target Cut to $110.00 by Analysts at Bank of America

Revvity (NYSE:RVTY) had its price target cut by Bank of America from $116.00 to $110.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on RVTY. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 price target (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Robert W. Baird decreased their price target on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group lowered their target price on Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.64.

Revvity Stock Up 1.3%

Shares of Revvity stock opened at $98.95 on Thursday. The company has a fifty day moving average price of $93.24 and a 200 day moving average price of $105.58. The company has a current ratio of 3.58, a quick ratio of 2.99 and a debt-to-equity ratio of 0.41. Revvity has a twelve month low of $87.70 and a twelve month high of $129.50. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97.

Revvity (NYSE:RVTY) last announced 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. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm had revenue of $664.76 million during the quarter, compared to analysts’ expectations of $662.30 million. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio (DPR) is presently 11.91%.

Institutional Investors Weigh In On Revvity

A number of institutional investors have recently modified their holdings of RVTY. Assetmark Inc. raised its stake in shares of Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Revvity in the 4th quarter valued at about $33,000. Quarry LP raised its stake in shares of 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 in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Revvity in the 4th quarter valued at about $38,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Revvity in the 4th quarter valued at about $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.