Revvity, Inc. (NYSE:RVTY) Given Average Recommendation of “Moderate Buy” by Analysts

Revvity, Inc. (NYSE:RVTY) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $125.64.

Several equities research analysts have issued reports on RVTY shares. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and lowered their price target for the company from $145.00 to $115.00 in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group cut their price target on shares of Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Finally, Robert W. Baird decreased their price objective on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th.

Institutional Investors Weigh In On Revvity

A number of hedge funds and other institutional investors have recently bought and sold shares of RVTY. Strs Ohio acquired a new position in Revvity in the first quarter worth $1,300,000. Focus Partners Wealth increased its stake in shares of Revvity by 13.0% in the first quarter. Focus Partners Wealth now owns 7,028 shares of the company’s stock valued at $744,000 after buying an additional 811 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Revvity in the first quarter valued at about $312,000. United Services Automobile Association acquired a new position in Revvity during the 1st quarter worth about $301,000. Finally, Goldman Sachs Group Inc. lifted its position in Revvity by 45.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 607,104 shares of the company’s stock worth $64,232,000 after buying an additional 189,871 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Trading Down 2.3%

Revvity stock opened at $93.47 on Friday. The business has a 50 day moving average price of $93.20 and a two-hundred day moving average price of $106.86. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity has a 12 month low of $87.70 and a 12 month high of $129.50. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 42.29, a price-to-earnings-growth ratio of 3.82 and a beta of 0.97.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The business had revenue of $664.76 million for the quarter, compared to analysts’ expectations of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. Revvity’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. As a group, equities analysts forecast that Revvity will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s payout ratio is currently 11.91%.

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.