Revvity, Inc. (NYSE:RVTY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Revvity, Inc. (NYSE:RVTY) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $118.69.

RVTY has been the subject of several recent analyst reports. TD Cowen raised their target price on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Barclays decreased their price objective on Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group initiated coverage on Revvity in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th.

Revvity Price Performance

NYSE RVTY opened at $102.48 on Friday. Revvity has a 1 year low of $79.50 and a 1 year high of $131.96. The stock’s 50-day moving average price is $107.17 and its two-hundred day moving average price is $106.35. The company has a market cap of $12.65 billion, a PE ratio of 84.69, a PEG ratio of 2.73 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last released its quarterly 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. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, analysts predict that Revvity will post 4.65 EPS for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio is currently 23.14%.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at $4,075,974. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RVTY. Czech National Bank increased its stake in shares of Revvity by 0.5% in the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after purchasing an additional 99 shares during the period. Gladius Capital Management LP grew its holdings in Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Inspire Investing LLC increased its position in Revvity by 2.9% in the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after buying an additional 117 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock worth $409,000 after buying an additional 135 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Revvity by 3.7% in the first quarter. Empirical Finance LLC now owns 4,225 shares of the company’s stock valued at $444,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds 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.