Revvity (NYSE:RVTY) Lowered to Hold Rating by Wall Street Zen

Revvity (NYSE:RVTY - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

RVTY has been the topic of several other research reports. Raymond James restated an "outperform" rating and set a $120.00 price objective (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Robert W. Baird decreased their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and cut their target price for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Barclays reduced their price objective 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. Finally, The Goldman Sachs Group dropped their target price on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Revvity currently has an average rating of "Moderate Buy" and a consensus target price of $125.64.

Revvity Trading Up 3.2%

Shares of Revvity stock traded up $2.89 during trading on Friday, reaching $92.22. The company's stock had a trading volume of 1,536,455 shares, compared to its average volume of 953,932. The firm's 50-day moving average is $96.30 and its two-hundred day moving average is $108.88. 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 company has a market cap of $10.87 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (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 the consensus estimate of $662.30 million. During the same quarter last year, the firm posted $0.98 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Revvity will post 4.94 earnings per share for the current year.

Hedge Funds Weigh In On Revvity

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of Revvity by 16.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after buying an additional 2,969,326 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock valued at $1,011,863,000 after buying an additional 1,932,314 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Revvity by 51.1% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after purchasing an additional 1,372,456 shares in the last quarter. Norges Bank purchased a new position in shares of Revvity during the 4th quarter valued at $127,801,000. Finally, GAMMA Investing LLC grew its position in Revvity by 15,023.0% in the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after acquiring an additional 285,137 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

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.