JPMorgan Chase & Co. Cuts Revvity (NYSE:RVTY) Price Target to $96.00

Revvity (NYSE:RVTY) had its price target trimmed by JPMorgan Chase & Co. from $105.00 to $96.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on RVTY. Wells Fargo & Company upped their target price on Revvity from $107.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Evercore lifted their price target on Revvity from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group began coverage on shares of Revvity in a research report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 price target on the stock. Barclays raised their price objective on shares of Revvity from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 3rd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Revvity in a research note on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Revvity has a consensus rating of “Hold” and an average price target of $112.92.

Revvity Trading Up 1.4%

RVTY opened at $89.12 on Tuesday. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company’s 50 day simple moving average is $95.98 and its two-hundred day simple moving average is $96.49. Revvity has a 1-year low of $81.36 and a 1-year high of $118.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.68 and a quick ratio of 1.40.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, February 2nd. The company reported $1.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $772.06 million during the quarter, compared to analyst estimates of $759.81 million. During the same period in the prior year, the business earned $1.42 earnings per share. The business’s 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. Analysts expect that Revvity will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

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

Hedge Funds Weigh In On Revvity

Hedge funds have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. raised its position in Revvity by 26.3% in 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. Norges Bank purchased a new position in shares of Revvity during the second quarter worth $124,574,000. Allspring Global Investments Holdings LLC grew its stake in shares of Revvity by 127.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock valued at $171,921,000 after buying an additional 980,142 shares in the last quarter. Morgan Stanley grew its stake in shares of Revvity by 29.6% in the fourth quarter. Morgan Stanley now owns 2,844,464 shares of the company’s stock valued at $275,202,000 after buying an additional 650,083 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Revvity by 39.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock valued at $186,307,000 after buying an additional 596,436 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.