Revvity (NYSE:RVTY) Price Target Raised to $141.00

Revvity (NYSE:RVTY) had its target price boosted by TD Cowen from $130.00 to $141.00 in a report released on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

RVTY has been the topic of a number of other reports. Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a buy rating in a report on Tuesday. Barclays raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the company an equal weight rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a hold rating in a report on Monday, July 29th. Robert W. Baird raised their price objective on shares of Revvity from $126.00 to $127.00 and gave the company an outperform rating in a report on Tuesday, April 30th. Finally, SVB Leerink initiated coverage on shares of Revvity in a report on Monday, July 8th. They issued an outperform rating and a $125.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $123.81.

Revvity Price Performance

Revvity stock opened at $123.27 on Tuesday. The firm has a market cap of $15.21 billion, a PE ratio of 101.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.05. Revvity has a 52-week low of $79.50 and a 52-week high of $128.15. The company has a quick ratio of 1.92, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $110.09 and its two-hundred day moving average is $107.03.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (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 analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. On average, research analysts expect that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

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

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 4,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were 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 of the company’s stock, valued at $4,075,974. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revvity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new position in shares of Revvity in the fourth quarter valued at approximately $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Revvity in the fourth quarter valued at approximately $188,368,000. Norges Bank acquired a new position in shares of Revvity in the fourth quarter valued at approximately $129,483,000. Northern Trust Corp acquired a new position in shares of Revvity in the fourth quarter valued at approximately $127,401,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Revvity in the fourth quarter valued at approximately $112,037,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.