Revvity (NYSE:RVTY) Cut to “Hold” at Wall Street Zen

Revvity (NYSE:RVTY) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. Raymond James reiterated an “outperform” rating and set a $120.00 price target (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group dropped their target price on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Finally, UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.64.

Revvity Trading Down 1.1%

NYSE:RVTY opened at $89.47 on Friday. The company’s 50 day moving average price is $96.71 and its 200-day moving average price is $109.32. Revvity has a 52 week low of $88.01 and a 52 week high of $129.50. 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 $10.55 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 3.82 and a beta of 1.02.

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

Institutional Trading of Revvity

Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. raised its position in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares during the period. Optiver Holding B.V. bought a new stake in shares of Revvity during the 4th quarter valued at $33,000. Quarry LP raised its position in shares of Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after purchasing an additional 95 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Revvity during the 4th quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Revvity in the 4th quarter valued at $41,000. 86.65% of the stock is currently owned by institutional investors.

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.