Revvity Inc. (NYSE:RVTY) Stock Has Average Target Price of $124.43

Revvity Inc. (NYSE:RVTY) has been given an average recommendation of “Hold” by the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $124.43.

RVTY has been the topic of several research reports. KeyCorp upped their price objective on shares of Revvity from $125.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Evercore restated an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. Barclays raised their price target on shares of Revvity from $115.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 7th. TD Cowen increased their price objective on shares of Revvity from $130.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Finally, Weiss Ratings raised shares of Revvity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th.

Revvity Stock Performance

Shares of RVTY opened at $151.76 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.93 billion, a P/E ratio of 72.27, a price-to-earnings-growth ratio of 3.01 and a beta of 1.06. The firm’s fifty day simple moving average is $145.08 and its two-hundred day simple moving average is $112.36. Revvity has a 12 month low of $81.22 and a 12 month high of $169.06.

Revvity (NYSE:RVTY) last released its earnings results on Tuesday, August 4th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.21 by $0.20. The business had revenue of $729.69 million during the quarter, compared to analysts’ expectations of $702.96 million. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. As a group, analysts predict that Revvity will post 5.36 EPS for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. Revvity’s dividend payout ratio (DPR) is currently 13.33%.

Insiders Place Their Bets

In other news, insider Maxwell Krakowiak sold 1,631 shares of Revvity stock in a transaction on Monday, September 21st. The stock was sold at an average price of $144.53, for a total transaction of $235,728.43. Following the sale, the insider directly owned 14,781 shares in the company, valued at $2,136,297.93. The trade was a 9.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tajinder Vohra sold 7,330 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the transaction, the insider owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. The trade was a 52.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,045 shares of company stock worth $1,281,439 over the last quarter. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Revvity

Hedge funds have recently modified their holdings of the stock. Jupiter Topco LLC bought a new position in Revvity in the 2nd quarter worth about $961,017,000. BlackRock Inc. purchased a new position in Revvity during the second quarter valued at approximately $852,070,000. Wellington Management Group LLP grew its stake in Revvity by 10,653.8% during the second quarter. Wellington Management Group LLP now owns 865,575 shares of the company’s stock valued at $96,304,000 after acquiring an additional 857,526 shares in the last quarter. Primecap Management Co. CA purchased a new position in Revvity during the second quarter valued at approximately $94,921,000. Finally, Bank of America Corp DE bought a new position in Revvity in the 2nd quarter valued at $87,116,000. Institutional investors own 86.65% of the company’s stock.

Revvity Company Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.