Revvity, Inc. (NYSE:RVTY) Receives $136.25 Consensus Target Price from Brokerages

Shares of Revvity, Inc. (NYSE:RVTY) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $136.25.

A number of equities research analysts have recently weighed in on RVTY shares. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research report on Friday, January 10th. Barclays raised their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. KeyCorp boosted their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th.

Revvity Price Performance

RVTY opened at $94.79 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity has a 1 year low of $93.54 and a 1 year high of $129.50. The stock’s 50 day simple moving average is $113.18 and its 200 day simple moving average is $116.43. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 42.89, a PEG ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter last year, the company posted $1.25 earnings per share. As a group, analysts predict that Revvity will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently modified their holdings of RVTY. Versant Capital Management Inc boosted its position in Revvity by 489.0% in the first quarter. Versant Capital Management Inc now owns 1,814 shares of the company’s stock worth $192,000 after purchasing an additional 1,506 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Revvity by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 6,655 shares of the company’s stock worth $743,000 after buying an additional 776 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Revvity by 20.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,952 shares of the company’s stock valued at $553,000 after buying an additional 838 shares during the period. Dogwood Wealth Management LLC increased its holdings in Revvity by 16.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 4,987 shares of the company’s stock valued at $557,000 after buying an additional 717 shares during the last quarter. Finally, Siemens Fonds Invest GmbH raised its position in Revvity by 264.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 13,357 shares of the company’s stock worth $1,491,000 after acquiring an additional 9,696 shares during the period. 86.65% of the stock is owned by institutional investors.

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.