Revvity (NYSE:RVTY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Revvity (NYSE:RVTY) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Barclays cut their price objective on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Bank of America cut their price objective on shares of Revvity from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird cut their price objective on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Revvity has an average rating of “Moderate Buy” and an average target price of $123.64.

Revvity Trading Down 1.0%

Shares of NYSE:RVTY opened at $97.78 on Friday. Revvity has a 52-week low of $87.70 and a 52-week high of $129.50. The company has a market capitalization of $11.53 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 2.39 and a beta of 0.97. The company has a 50-day simple moving average of $93.36 and a 200 day simple moving average of $105.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The business had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same period last year, the business posted $0.98 EPS. Revvity’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Revvity will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. Revvity’s dividend payout ratio is presently 11.91%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV increased its stake in Revvity by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company’s stock valued at $1,682,000 after acquiring an additional 91 shares during the last quarter. Quarry LP increased its stake in Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. Signaturefd LLC increased its stake in Revvity by 6.8% in the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after acquiring an additional 106 shares during the last quarter. HB Wealth Management LLC increased its stake in Revvity by 4.8% in the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company’s stock valued at $264,000 after acquiring an additional 114 shares during the last quarter. Finally, RDA Financial Network increased its stake in Revvity by 3.6% in the first quarter. RDA Financial Network now owns 3,331 shares of the company’s stock valued at $352,000 after acquiring an additional 115 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

About Revvity

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.