Analysts Set Revvity Inc. (NYSE:RVTY) Target Price at $113.91

Shares of Revvity Inc. (NYSE:RVTY) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $113.9091.

A number of brokerages have weighed in on RVTY. Wells Fargo & Company boosted their target price on shares of Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Bank of America cut Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a research report on Monday, December 15th. Evercore ISI reissued an “outperform” rating on shares of Revvity in a research report on Monday, January 5th. Barclays upped their price target on shares of Revvity from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th.

Revvity Price Performance

RVTY opened at $108.52 on Friday. The company’s 50-day simple moving average is $103.75 and its two-hundred day simple moving average is $95.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.75. The stock has a market capitalization of $12.30 billion, a P/E ratio of 54.53, a P/E/G ratio of 3.39 and a beta of 1.05. Revvity has a 52-week low of $81.36 and a 52-week high of $128.29.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $699.75 million. During the same period in the previous year, the company earned $1.28 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that Revvity will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 14.07%.

Revvity announced that its Board of Directors has initiated a share repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Revvity

Several institutional investors and hedge funds have recently bought and sold shares of RVTY. CYBER HORNET ETFs LLC purchased a new stake in Revvity in the second quarter worth about $32,000. Cromwell Holdings LLC grew its stake in shares of Revvity by 141.4% during the 4th quarter. Cromwell Holdings LLC now owns 338 shares of the company’s stock valued at $33,000 after acquiring an additional 198 shares during the period. MUFG Securities EMEA plc bought a new stake in Revvity during the 2nd quarter worth approximately $34,000. UMB Bank n.a. raised its stake in Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after acquiring an additional 236 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.