Revvity (NYSE:RVTY) Reaches New 52-Week High on Analyst Upgrade

Revvity, Inc. (NYSE:RVTY)’s stock price reached a new 52-week high on Wednesday after TD Cowen raised their price target on the stock from $130.00 to $141.00. TD Cowen currently has a buy rating on the stock. Revvity traded as high as $128.00 and last traded at $126.45, with a volume of 10141 shares traded. The stock had previously closed at $127.16.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Barclays raised their target price on shares of Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. Citigroup raised their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday. Finally, Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.81.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RVTY. Rothschild Investment LLC bought a new position in shares of Revvity in the 2nd quarter worth about $25,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Revvity by 1.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,641 shares of the company’s stock worth $1,326,000 after buying an additional 163 shares during the last quarter. Signaturefd LLC lifted its position in shares of Revvity by 12.9% in the 2nd quarter. Signaturefd LLC now owns 1,605 shares of the company’s stock worth $168,000 after buying an additional 183 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Revvity by 26.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,015 shares of the company’s stock worth $945,000 after buying an additional 1,879 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Revvity by 76.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after buying an additional 13,283 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

The stock’s 50-day moving average price is $109.37 and its 200-day moving average price is $106.68. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.68 billion, a P/E ratio of 105.16, a P/E/G ratio of 3.27 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.35%. The company had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same period last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio is presently 23.14%.

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.