Revvity (NYSE:RVTY) Price Target Increased to $130.00 by Analysts at TD Cowen

Revvity (NYSE:RVTY) had its price target increased by TD Cowen from $123.00 to $130.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a hold rating in a report on Friday, February 2nd. UBS Group downgraded shares of Revvity from a buy rating to a neutral rating and boosted their price target for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Raymond James increased their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Barclays boosted their target price on Revvity from $92.00 to $105.00 and gave the company an equal weight rating in a research report on Thursday, January 25th. Finally, KeyCorp raised their price target on Revvity from $110.00 to $126.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Revvity has an average rating of Moderate Buy and an average target price of $118.17.

Revvity Stock Performance

Revvity stock opened at $100.61 on Tuesday. The firm has a 50 day simple moving average of $104.56 and a 200-day simple moving average of $101.28. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 83.15, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.77. Revvity has a 1-year low of $79.50 and a 1-year high of $132.54.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

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

Insider Activity at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of Revvity stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revvity

Several hedge funds and other institutional investors have recently made changes to their positions in RVTY. KBC Group NV purchased a new position in Revvity in the third quarter valued at approximately $25,301,000. 2Xideas AG acquired a new stake in Revvity during the 3rd quarter worth $20,968,000. Citigroup Inc. purchased a new stake in Revvity in the third quarter valued at $5,548,000. Wesbanco Bank Inc. acquired a new position in Revvity in the third quarter valued at $522,000. Finally, Headinvest LLC purchased a new position in shares of Revvity during the third quarter worth about $57,000. 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.