Revvity (NYSE:RVTY) Stock Price Up 7.2% After Analyst Upgrade

Revvity Inc. (NYSE:RVTY) shot up 7.2% during trading on Thursday after Sanford C. Bernstein upgraded the stock to a hold rating. The company traded as high as $114.12 and last traded at $113.2620. Approximately 359,431 shares traded hands during trading, a decline of 73% from the average daily volume of 1,330,125 shares. The stock had previously closed at $105.63.

A number of other analysts have also issued reports on RVTY. TD Cowen raised their target price on shares of Revvity from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Revvity from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Robert W. Baird set a $117.00 price objective on Revvity in a report on Wednesday, May 6th. Barclays lifted their price objective on Revvity from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Revvity currently has an average rating of “Hold” and a consensus target price of $108.33.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently modified their holdings of RVTY. EdgePoint Investment Group Inc. increased its position in Revvity by 26.3% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock worth $751,536,000 after purchasing an additional 1,784,620 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Revvity by 127.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock worth $171,921,000 after purchasing an additional 980,142 shares during the period. Norges Bank purchased a new position in Revvity in the fourth quarter valued at about $80,382,000. Morgan Stanley grew its stake in shares of Revvity by 29.6% in the fourth quarter. Morgan Stanley now owns 2,844,464 shares of the company’s stock valued at $275,202,000 after buying an additional 650,083 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Revvity by 39.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock valued at $186,307,000 after buying an additional 596,436 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Down 0.5%

The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $97.46 and a 200 day moving average of $97.75. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 54.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The company had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. On average, sell-side analysts anticipate that Revvity Inc. will post 5.25 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 7th. Stockholders of record on Friday, July 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, July 17th. Revvity’s payout ratio is presently 13.40%.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.