Robert W. Baird Boosts Revvity (NYSE:RVTY) Price Target to $127.00

Revvity (NYSE:RVTY) had its target price increased by Robert W. Baird from $126.00 to $127.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Raymond James raised their price target on shares of Revvity from $106.00 to $127.00 and gave the company an outperform rating in a report on Friday, February 2nd. Barclays raised their target price on Revvity from $92.00 to $105.00 and gave the company an equal weight rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price objective on Revvity from $95.00 to $110.00 and gave the company a hold rating in a report on Friday, February 2nd. UBS Group lowered Revvity from a buy rating to a neutral rating and boosted their target price for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Finally, TD Cowen increased their price target on Revvity from $123.00 to $130.00 and gave the company a buy rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $118.17.

Revvity Trading Down 0.5 %

NYSE:RVTY opened at $100.61 on Tuesday. The stock has a market cap of $12.43 billion, a PE ratio of 83.15, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $132.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.77. The stock’s 50-day moving average is $104.56 and its two-hundred day moving average is $101.28.

Revvity (NYSE:RVTY) last released its earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The company had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Revvity will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Insider Activity at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Hedge funds have recently made changes to their positions in the business. Czech National Bank raised its position 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 purchasing an additional 99 shares in the last quarter. Gladius Capital Management LP boosted its position in Revvity by 84.1% in the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock worth $409,000 after buying an additional 135 shares in the last quarter. Byrne Asset Management LLC raised its stake in shares of Revvity by 1.6% in the first quarter. Byrne Asset Management LLC now owns 10,215 shares of the company’s stock valued at $1,073,000 after acquiring an additional 165 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Revvity by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 16,707 shares of the company’s stock worth $1,754,000 after acquiring an additional 229 shares in the last quarter. Institutional investors and hedge funds 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.