Revvity’s (RVTY) “Outperform” Rating Reiterated at Raymond James Financial

Revvity (NYSE:RVTY)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James Financial in a note issued to investors on Tuesday,Benzinga reports. They presently have a $115.00 target price on the stock, down from their previous target price of $120.00. Raymond James Financial’s target price would suggest a potential upside of 26.57% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Bank of America decreased their price objective on Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Wall Street Zen raised Revvity from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird decreased their price objective on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, Evercore ISI decreased their price objective on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and an average price target of $120.07.

Revvity Stock Down 3.8%

RVTY opened at $90.86 on Tuesday. The business’s fifty day moving average is $95.59 and its two-hundred day moving average is $102.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.99 and a current ratio of 3.33. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.34 and a beta of 0.98. Revvity has a one year low of $87.70 and a one year high of $129.50.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $720.28 million for the quarter, compared to the consensus estimate of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. Revvity’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Analysts anticipate that Revvity will post 4.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock valued at $2,382,163,000 after purchasing an additional 1,754,403 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Revvity by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company’s stock valued at $1,521,705,000 after purchasing an additional 92,638 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after purchasing an additional 1,932,314 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after purchasing an additional 23,650 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 32.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock valued at $567,178,000 after purchasing an additional 1,302,616 shares in the last quarter. 86.65% of the stock is 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.