Bank of America Issues Pessimistic Forecast for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY) had its target price lowered by Bank of America from $116.00 to $110.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

RVTY has been the subject of several other research reports. Robert W. Baird decreased their target price on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. decreased their price objective on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and an average target price of $123.64.

Revvity Price Performance

RVTY opened at $98.95 on Thursday. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97. Revvity has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The company’s 50-day moving average price is $93.24 and its 200 day moving average price is $105.58. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm had revenue of $664.76 million during the quarter, compared to analysts’ expectations of $662.30 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Revvity’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Revvity will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued 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 18th. Revvity’s payout ratio is 11.91%.

Institutional Trading of Revvity

A number of large investors have recently added to or reduced their stakes in RVTY. Principal Securities Inc. boosted its holdings in Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after buying an additional 212 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Revvity during the fourth quarter worth approximately $209,000. Private Advisor Group LLC boosted its holdings in Revvity by 5.3% during the fourth quarter. Private Advisor Group LLC now owns 4,254 shares of the company’s stock worth $475,000 after buying an additional 213 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Revvity in the 4th quarter valued at approximately $223,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Revvity by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 826,110 shares of the company’s stock valued at $92,202,000 after acquiring an additional 58,876 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

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.