Bank of America Downgrades Revvity (NYSE:RVTY) to Neutral

Revvity (NYSE:RVTY) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports. They currently have a $110.00 price objective on the stock. Bank of America‘s target price would suggest a potential upside of 14.45% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Evercore ISI restated an “outperform” rating and set a $108.00 target price on shares of Revvity in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research note on Monday, December 8th. Barclays upped their target price on Revvity from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group assumed coverage on Revvity in a report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 target price on the stock. Finally, Robert W. Baird lifted their price target on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.25.

Revvity Price Performance

Shares of NYSE:RVTY opened at $96.11 on Monday. Revvity has a twelve month low of $81.36 and a twelve month high of $128.29. The company’s 50 day moving average is $96.36 and its 200 day moving average is $93.46. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a market cap of $10.90 billion, a PE ratio of 48.30, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, October 27th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, sell-side analysts forecast that Revvity will post 4.94 EPS for the current year.

Revvity declared that its Board of Directors has authorized a stock buyback program on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Revvity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new position in Revvity during the second quarter valued at $32,000. MUFG Securities EMEA plc purchased a new position in Revvity in the 2nd quarter valued at about $34,000. UMB Bank n.a. lifted its stake in Revvity by 138.8% in the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after buying an additional 236 shares in the last quarter. CVA Family Office LLC boosted its holdings in Revvity by 79.0% in the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after buying an additional 181 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Revvity during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors 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.