Revvity (NYSE:RVTY) Given New $130.00 Price Target at TD Cowen

Revvity (NYSE:RVTY) had its price objective raised 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.

Several other analysts have also recently weighed in on the stock. Raymond James lifted their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Barclays lifted their price objective on shares of Revvity from $92.00 to $105.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their price objective on shares of Revvity from $95.00 to $110.00 and gave the stock a hold rating in a research note on Friday, February 2nd. UBS Group cut shares of Revvity from a buy rating to a neutral rating and lifted their price objective for the stock from $105.00 to $125.00 in a research note on Tuesday, January 16th. Finally, KeyCorp boosted their target price on shares of Revvity from $110.00 to $126.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $118.17.

Revvity Stock Performance

Shares of RVTY stock opened at $102.47 on Tuesday. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The company has a 50-day simple moving average of $104.72 and a 200 day simple moving average of $101.32. Revvity has a 52 week low of $79.50 and a 52 week high of $132.54.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 25.20% and a return on equity of 7.41%. Revvity’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, sell-side analysts predict that Revvity will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors 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 yield of 0.27%. The ex-dividend date is Friday, July 19th. Revvity’s dividend payout ratio is 5.09%.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 92,801 shares in the company, 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.

Hedge Funds Weigh In On Revvity

Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust acquired a new position in Revvity during the 4th quarter worth approximately $25,000. Gladius Capital Management LP grew its holdings in Revvity by 84.1% during the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Revvity during the 4th quarter worth approximately $27,000. CENTRAL TRUST Co bought a new stake in Revvity during the 4th quarter worth approximately $27,000. Finally, ORG Partners LLC bought a new stake in Revvity during the 4th quarter worth approximately $32,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Company Profile

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.