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

Shares of Revvity, Inc. (NYSE:RVTY) reached a new 52-week low during trading 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 trading hands. The stock had previously closed at $91.82.

Other equities research analysts have also recently issued reports about the stock. Raymond James restated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Barclays cut their price target on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Finally, Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.50.

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction 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 sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Revvity

A number of hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its holdings in Revvity by 16.7% in 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 buying an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. grew its position in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after acquiring an additional 1,151,821 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after purchasing an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Revvity by 51.1% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after purchasing an additional 1,372,456 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The stock has a market capitalization of $10.78 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The business’s 50-day moving average is $106.34 and its two-hundred day moving average is $113.76.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (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 last year, the business earned $1.25 EPS. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) 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.