Revvity (NYSE:RVTY) Price Target Raised to $124.00

Revvity (NYSE:RVTY) had its price target raised by TD Cowen from $120.00 to $124.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Revvity from $100.00 to $105.00 and gave the company a “hold” rating in a report on Monday. Bank of America cut shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research note on Monday, December 15th. Guggenheim began coverage on shares of Revvity in a research note on Wednesday, October 15th. They issued a “neutral” rating on the stock. Evercore ISI increased their price objective on shares of Revvity from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.67.

Revvity Price Performance

NYSE:RVTY opened at $99.32 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.68 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $103.86 and its two-hundred day simple moving average is $95.65. The stock has a market cap of $11.26 billion, a PE ratio of 47.75, a P/E/G ratio of 2.20 and a beta of 1.07. Revvity has a 52 week low of $81.36 and a 52 week high of $123.34.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, February 2nd. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Revvity had a return on equity of 7.92% and a net margin of 8.45%.The firm had revenue of $772.06 million during the quarter, compared to analyst estimates of $759.81 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. As a group, analysts forecast that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s payout ratio is 13.46%.

Revvity announced that its Board of Directors has initiated a stock repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Revvity

Large investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its position in Revvity by 26.3% during the third quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock valued at $751,536,000 after purchasing an additional 1,784,620 shares during the period. Invesco Ltd. increased its position in shares of Revvity by 15.7% during the 3rd quarter. Invesco Ltd. now owns 2,553,515 shares of the company’s stock valued at $223,816,000 after purchasing an additional 346,313 shares during the last quarter. UBS Group AG raised its holdings in Revvity by 22.3% during the 3rd quarter. UBS Group AG now owns 2,179,505 shares of the company’s stock valued at $191,034,000 after buying an additional 397,160 shares during the period. Dimensional Fund Advisors LP lifted its position in Revvity by 39.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock worth $186,307,000 after buying an additional 596,436 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Revvity by 127.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock worth $171,921,000 after buying an additional 980,142 shares during the period. 86.65% of the stock is owned by institutional investors.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.