Revvity (NYSE:RVTY) Shares Up 7.2% – Here’s What Happened

Revvity Inc. (NYSE:RVTY) shares rose 7.2% on Thursday . The stock traded as high as $114.12 and last traded at $113.2620. Approximately 359,431 shares traded hands during trading, a decline of 73% from the average session volume of 1,330,125 shares. The stock had previously closed at $105.63.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RVTY shares. JPMorgan Chase & Co. reduced their target price on Revvity from $96.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Wolfe Research assumed coverage on shares of Revvity in a research note on Tuesday, June 2nd. They set a “peer perform” rating for the company. The Goldman Sachs Group decreased their target price on shares of Revvity from $110.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Weiss Ratings downgraded shares of Revvity from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 13th. Finally, TD Cowen boosted their price target on shares of Revvity from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Revvity has an average rating of “Hold” and a consensus price target of $107.73.

Revvity Trading Up 7.7%

The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 54.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72. The company’s 50 day simple moving average is $96.66 and its two-hundred day simple moving average is $97.55.

Revvity (NYSE:RVTY) last issued its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The company had revenue of $711.12 million during the quarter, compared to analyst estimates of $704.07 million. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts expect that Revvity Inc. will post 5.25 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Revvity’s dividend payout ratio (DPR) is presently 13.40%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Byrne Asset Management LLC grew its stake in shares of Revvity by 0.9% in the 4th quarter. Byrne Asset Management LLC now owns 11,138 shares of the company’s stock valued at $1,078,000 after buying an additional 100 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Revvity by 1.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 5,416 shares of the company’s stock valued at $524,000 after acquiring an additional 100 shares in the last quarter. Allworth Financial LP lifted its stake in Revvity by 8.9% in the fourth quarter. Allworth Financial LP now owns 1,275 shares of the company’s stock valued at $123,000 after acquiring an additional 104 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Revvity by 17.0% in the first quarter. EverSource Wealth Advisors LLC now owns 749 shares of the company’s stock valued at $66,000 after acquiring an additional 109 shares during the last quarter. Finally, Trust Point Inc. grew its position in Revvity by 3.8% in the fourth quarter. Trust Point Inc. now owns 3,215 shares of the company’s stock worth $311,000 after acquiring an additional 117 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.