Revvity (NYSE:RVTY) Cut to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Revvity (NYSE:RVTY – Free Report) from a buy rating to a hold rating in a report published on Sunday.

RVTY has been the subject of a number of other research reports. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and cut their price objective for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Raymond James Financial reiterated an “outperform” rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. The Goldman Sachs Group dropped their price objective on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Finally, Evercore ISI lowered their price objective on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.07.

Check Out Our Latest Stock Analysis on RVTY

Revvity Stock Up 0.5%

RVTY opened at $88.73 on Friday. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 2.37 and a beta of 0.91. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $95.42 and its two-hundred day moving average price is $101.99. Revvity has a twelve month low of $85.80 and a twelve month high of $129.50.

Revvity (NYSE:RVTY – Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. Revvity’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. As a group, equities analysts expect that Revvity will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity’s payout ratio is currently 11.86%.

Institutional Investors Weigh In On Revvity

Several large investors have recently bought and sold shares of RVTY. T. Rowe Price Investment Management Inc. increased its position in Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after acquiring an additional 2,969,326 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after buying an additional 1,372,456 shares during the period. GAMMA Investing LLC increased its holdings in Revvity by 15,023.0% in the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock worth $30,368,000 after buying an additional 285,137 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Revvity by 18.8% during the 4th quarter. Invesco Ltd. now owns 1,740,933 shares of the company’s stock worth $194,306,000 after purchasing an additional 274,923 shares during the period. Institutional investors own 86.65% of the company’s stock.

Revvity Company Profile

(Get Free Report)

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.

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