Bank of America Boosts Revvity (NYSE:RVTY) Price Target to $127.00

Revvity (NYSE:RVTY) had its price objective upped by Bank of America from $118.00 to $127.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently issued reports on RVTY. Jefferies Financial Group increased their target price on Revvity from $115.00 to $125.00 and gave the stock a hold rating in a research report on Monday. Barclays raised their target price on Revvity from $115.00 to $125.00 and gave the stock an equal weight rating in a research note on Tuesday. Leerink Partnrs upgraded Revvity to a strong-buy rating in a research report on Monday, July 8th. Robert W. Baird increased their price target on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Finally, SVB Leerink started coverage on shares of Revvity in a report on Monday, July 8th. They set an outperform rating and a $125.00 target price on the stock. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $123.81.

Revvity Price Performance

Shares of NYSE:RVTY opened at $125.02 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $15.43 billion, a PE ratio of 103.32, a price-to-earnings-growth ratio of 2.98 and a beta of 1.05. The stock’s fifty day simple moving average is $109.89 and its two-hundred day simple moving average is $106.94. Revvity has a 1-year low of $79.50 and a 1-year high of $128.15.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. As a group, analysts forecast that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the sale, the insider now directly owns 36,900 shares of the company’s stock, valued at $4,075,974. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

A number of large investors have recently made changes to their positions in RVTY. Nomura Asset Management Co. Ltd. bought a new stake in shares of Revvity in the fourth quarter worth $3,593,000. Byrne Asset Management LLC bought a new stake in shares of Revvity during the 4th quarter valued at about $1,112,000. BNP Paribas Financial Markets purchased a new stake in shares of Revvity during the 4th quarter valued at about $12,039,000. State of Michigan Retirement System bought a new position in shares of Revvity in the 4th quarter worth approximately $3,688,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Revvity in the fourth quarter worth approximately $15,213,000. 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.