Revvity (NYSE:RVTY) Hits New 12-Month Low After 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.

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

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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 $4,232,782. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock worth $7,841,000 after acquiring an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after purchasing an additional 41,497 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Revvity by 1,715.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after acquiring an additional 65,376 shares during the period. Janney Montgomery Scott LLC lifted its position in Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock worth $881,000 after acquiring an additional 3,672 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Revvity by 41.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company’s stock valued at $1,352,000 after purchasing an additional 3,542 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Trading Down 1.9 %

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

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter last year, the business earned $1.25 EPS. As a group, sell-side analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.31%. Revvity’s dividend payout ratio is presently 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.