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

Revvity, Inc. (NYSE:RVTY)’s share price hit a new 52-week low during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $140.00 to $125.00. The Goldman Sachs Group currently has a buy rating on the stock. Revvity traded as low as $91.51 and last traded at $93.34, with a volume of 1885098 shares. The stock had previously closed at $94.66.

Several other equities analysts have also issued reports on RVTY. Barclays decreased their target price on Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. KeyCorp lifted their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered 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. Finally, Raymond James reiterated an “outperform” rating and set a $120.00 target price (down from $145.00) on shares of Revvity in a report on Tuesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.64.

Hedge Funds Weigh In On Revvity

A number of large investors have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Revvity by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company’s stock worth $1,682,000 after purchasing an additional 91 shares in the last quarter. Quarry LP increased its stake in Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Revvity by 4.6% during the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after buying an additional 104 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Revvity by 6.8% in the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Trading Down 0.5 %

The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 42.06, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The business has a 50-day moving average of $103.23 and a 200-day moving average of $112.33.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.05. The firm had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.

Revvity Company Profile

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.