Revvity, Inc. (NYSE:RVTY) Receives $117.92 Average PT from Analysts

Shares of Revvity, Inc. (NYSE:RVTY) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $117.92.

RVTY has been the subject of a number of recent research reports. TD Cowen boosted their target price on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird upped their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group started coverage on shares of Revvity in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company.

Revvity Trading Down 1.5 %

RVTY stock opened at $109.30 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92. The company has a fifty day moving average price of $106.03 and a two-hundred day moving average price of $104.69. Revvity has a one year low of $79.50 and a one year high of $131.96. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 90.33, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $649.90 million during the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. Revvity’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts anticipate that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, July 19th. Revvity’s payout ratio is 23.14%.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new stake in Revvity during the 4th quarter valued at approximately $25,000. Gladius Capital Management LP increased its position in Revvity by 84.1% during the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Revvity during the 4th quarter valued at approximately $27,000. CENTRAL TRUST Co acquired a new stake in Revvity during the 4th quarter valued at approximately $27,000. Finally, ORG Partners LLC acquired a new stake in Revvity during the 4th quarter valued at approximately $32,000. 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.