Analysts Set Revvity, Inc. (NYSE:RVTY) Price Target at $123.81

Revvity, Inc. (NYSE:RVTY) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $123.81.

A number of equities analysts have issued reports on the company. Citigroup upped 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. JPMorgan Chase & Co. upped their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. TD Cowen upped their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Leerink Partnrs raised Revvity to a “strong-buy” rating in a report on Monday, July 8th.

Revvity Price Performance

Revvity stock opened at $119.39 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. Revvity has a 52 week low of $79.50 and a 52 week high of $128.15. The stock has a market capitalization of $14.73 billion, a P/E ratio of 98.67, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05. The stock has a fifty day moving average of $112.56 and a 200-day moving average of $108.13.

Revvity (NYSE:RVTY) last posted its quarterly 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. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter in the previous year, the firm earned $1.21 EPS. Revvity’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity’s payout ratio is 23.14%.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the sale, the insider now owns 36,900 shares in the company, valued at approximately $4,075,974. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 36,900 shares in the company, valued at approximately $4,075,974. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Czech National Bank boosted its holdings in Revvity by 0.5% in the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after acquiring an additional 99 shares in the last quarter. Garrison Asset Management LLC boosted its holdings in Revvity by 0.5% in the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after acquiring an additional 103 shares in the last quarter. TriaGen Wealth Management LLC boosted its holdings in Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after acquiring an additional 107 shares in the last quarter. Guinness Asset Management LTD boosted its holdings in Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after acquiring an additional 116 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Revvity by 2.9% in the first quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

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.