The Goldman Sachs Group Begins Coverage on Revvity (NYSE:RVTY)

Research analysts at The Goldman Sachs Group initiated coverage on shares of Revvity (NYSE:RVTY) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $105.00 price target on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 1.48% from the company’s current price.

Other research analysts have also recently issued reports about the company. Bank of America reduced their price target on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Barclays increased their price objective on Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Evercore ISI restated an “outperform” rating and set a $108.00 target price on shares of Revvity in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a research report on Monday. Finally, Robert W. Baird lifted their price objective on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.08.

Revvity Trading Up 4.7%

RVTY opened at $103.46 on Tuesday. The firm’s fifty day moving average is $95.78 and its two-hundred day moving average is $93.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.75. The firm has a market cap of $11.73 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06. Revvity has a twelve month low of $81.36 and a twelve month high of $128.29.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $698.95 million for the quarter, compared to analyst estimates of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Equities research analysts anticipate that Revvity will post 4.94 EPS for the current year.

Revvity declared that its board has approved a stock repurchase plan on Monday, October 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Revvity

Several institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its holdings in shares of Revvity by 8.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock valued at $2,382,163,000 after purchasing an additional 1,754,403 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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. grew its stake in shares of Revvity by 26.3% during the third quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock worth $751,536,000 after buying an additional 1,784,620 shares during the last quarter. Invesco Ltd. grew its stake in shares of Revvity by 15.7% during the third quarter. Invesco Ltd. now owns 2,553,515 shares of the company’s stock worth $223,816,000 after buying an additional 346,313 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Revvity by 22.3% during the third quarter. UBS Group AG now owns 2,179,505 shares of the company’s stock worth $191,034,000 after buying an additional 397,160 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

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.