Revvity (NYSE:RVTY) Reaches New 52-Week Low on Analyst Downgrade

Revvity, Inc. (NYSE:RVTY)’s stock price reached a new 52-week low on Monday after Robert W. Baird lowered their price target on the stock from $141.00 to $127.00. Robert W. Baird currently has an outperform rating on the stock. Revvity traded as low as $89.57 and last traded at $90.32, with a volume of 67414 shares. The stock had previously closed at $91.82.

Several other equities research analysts have also recently issued reports on RVTY. Barclays lowered their price objective on Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Raymond James reaffirmed an “outperform” rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday. KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and a consensus price target of $130.50.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Revvity

A number of institutional investors have recently bought and sold shares of RVTY. T. Rowe Price Investment Management Inc. increased its position in shares of 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 worth $2,317,170,000 after purchasing an additional 2,969,326 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock valued at $452,939,000 after buying an additional 1,372,456 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after purchasing an additional 1,151,821 shares during the period. Norges Bank acquired a new stake in shares of Revvity during the 4th quarter valued at approximately $127,801,000. Finally, GAMMA Investing LLC raised its holdings in Revvity by 15,023.0% during the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock worth $30,368,000 after purchasing an additional 285,137 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $106.77 and its 200 day moving average is $114.00. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. Revvity’s payout ratio is currently 12.67%.

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.