Raymond James Financial Reaffirms “Outperform” Rating for Revvity (NYSE:RVTY)

Revvity (NYSE:RVTY)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James Financial in a report issued on Tuesday,Benzinga reports. They currently have a $115.00 target price on the stock, down from their prior target price of $120.00. Raymond James Financial’s target price indicates a potential upside of 26.57% from the company’s previous close.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. UBS Group upgraded Revvity from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Bank of America dropped their price target on Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Finally, Evercore ISI dropped their price target on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.07.

Revvity Price Performance

Shares of NYSE RVTY opened at $90.86 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.99 and a current ratio of 3.33. Revvity has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The firm has a market capitalization of $10.71 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The stock’s 50-day simple moving average is $95.59 and its 200-day simple moving average is $102.99.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The business had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. During the same quarter last year, the company earned $1.22 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of Revvity by 16.7% in the fourth 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 buying an additional 2,969,326 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Revvity by 25.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after buying an additional 1,932,314 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock valued at $452,939,000 after buying an additional 1,372,456 shares in the last quarter. Norges Bank purchased a new stake in shares of Revvity in the fourth quarter valued at approximately $127,801,000. Finally, GAMMA Investing LLC boosted its stake in shares of Revvity by 15,023.0% in the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock valued at $30,368,000 after buying an additional 285,137 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.