Revvity, Inc. (NYSE:RVTY) Receives $126.00 Consensus Price Target from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $126.00.

Several analysts have recently commented on the company. Citigroup increased their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Bank of America raised their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Leerink Partners assumed coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Czech National Bank raised its position in Revvity by 0.5% in the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after buying an additional 99 shares during the last quarter. Garrison Asset Management LLC raised its position in Revvity by 0.5% in the 2nd quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after buying an additional 103 shares during the last quarter. TriaGen Wealth Management LLC raised its position in Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares during the last quarter. Guinness Asset Management LTD raised its position in Revvity by 3.3% in the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after buying an additional 116 shares during the last quarter. Finally, Inspire Investing LLC raised its position in Revvity by 2.9% in the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY stock opened at $124.59 on Thursday. The stock’s fifty day moving average is $118.46 and its 200-day moving average is $110.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The stock has a market capitalization of $15.37 billion, a PE ratio of 102.97, a PEG ratio of 2.87 and a beta of 1.05. Revvity has a 52 week low of $79.50 and a 52 week high of $128.15.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities research analysts expect that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is currently 23.14%.

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.