JPMorgan Chase & Co. Raises Revvity (NYSE:RVTY) Price Target to $120.00

Revvity (NYSE:RVTY) had its price target hoisted by JPMorgan Chase & Co. from $105.00 to $120.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also weighed in on RVTY. Robert W. Baird increased their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Barclays increased their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an equal weight rating in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a hold rating in a report on Monday, July 29th. Leerink Partnrs upgraded shares of Revvity to a strong-buy rating in a report on Monday, July 8th. Finally, SVB Leerink assumed coverage on shares of Revvity in a report on Monday, July 8th. They set an outperform rating and a $125.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $123.81.

Revvity Price Performance

NYSE:RVTY opened at $123.27 on Tuesday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 101.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.05. The company has a current ratio of 2.27, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $110.09 and its two-hundred day moving average is $107.03. Revvity has a 12-month low of $79.50 and a 12-month high of $128.15.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Research analysts expect that Revvity will post 4.75 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is 23.14%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Revvity

A number of hedge funds have recently made changes to their positions in RVTY. Raymond James & Associates acquired a new stake in shares of Revvity during the fourth quarter worth approximately $869,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Revvity during the fourth quarter worth approximately $529,000. Pacer Advisors Inc. acquired a new stake in shares of Revvity during the fourth quarter worth approximately $908,000. Blue Trust Inc. acquired a new stake in shares of Revvity during the fourth quarter worth approximately $90,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Revvity during the fourth quarter worth approximately $1,456,000. 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.