Revvity (NYSE:RVTY – Free Report) had its target price boosted by TD Cowen from $175.00 to $185.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.
Several other brokerages have also recently commented on RVTY. UBS Group started coverage on shares of Revvity in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $140.00 price target on the stock. Weiss Ratings upgraded shares of Revvity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. William Blair initiated coverage on shares of Revvity in a research note on Monday, October 5th. They issued an “outperform” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. Finally, Cfra upgraded shares of Revvity from a “hold” rating to a “buy” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $133.86.
View Our Latest Analysis on RVTY
Revvity Price Performance
Shares of RVTY stock traded up $4.49 during mid-day trading on Wednesday, hitting $155.32. 1,683,252 shares of the stock traded hands, compared to its average volume of 1,785,214. Revvity has a twelve month low of $81.22 and a twelve month high of $171.74. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 68.73, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08. The company’s 50-day simple moving average is $147.60 and its 200-day simple moving average is $113.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.50 and a current ratio of 1.80.
Revvity (NYSE:RVTY – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. Revvity had a return on equity of 8.34% and a net margin of 8.16%. The business had revenue of $728.90 million during the quarter, compared to analyst estimates of $694.73 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Revvity will post 5.42 earnings per share for the current year.
Revvity Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, January 22nd. Revvity’s dividend payout ratio is currently 12.39%.
Insiders Place Their Bets
In related news, insider Maxwell Krakowiak sold 1,631 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the transaction, the insider owned 14,781 shares in the company, valued at $2,136,297.93. This trade represents a 9.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tajinder Vohra sold 7,330 shares of Revvity stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the completion of the transaction, the insider directly owned 6,635 shares in the company, valued at $934,738.80. This represents a 52.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,045 shares of company stock valued at $1,281,439 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pillar Financial Advisors LLC acquired a new stake in shares of Revvity during the third quarter valued at approximately $29,000. Heritage Family Offices LLP purchased a new stake in shares of Revvity in the 3rd quarter valued at approximately $37,000. Ascentis Independent Advisors acquired a new position in Revvity in the 1st quarter worth approximately $29,000. Root Financial Partners LLC acquired a new position in Revvity in the 3rd quarter worth approximately $64,000. Finally, Global Retirement Partners LLC acquired a new position in Revvity in the 2nd quarter worth approximately $51,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.
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.
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