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

Wall Street Zen downgraded shares of Revvity (NYSE:RVTY - Free Report) from a buy rating to a hold rating in a research report released on Friday morning.

RVTY has been the subject of several other research reports. Robert W. Baird dropped their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Evercore ISI lowered their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $123.07.

Revvity Stock Down 2.5%

Shares of RVTY traded down $2.39 during mid-day trading on Friday, reaching $93.19. The company's stock had a trading volume of 1,006,728 shares, compared to its average volume of 978,221. The business has a fifty day moving average of $95.10 and a 200 day moving average of $103.92. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 39.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Revvity has a 1 year low of $87.70 and a 1 year high of $129.50. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The business had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. During the same period last year, the company earned $0.98 earnings per share. Revvity's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC grew its stake in Revvity by 114.5% in the 2nd quarter. V Square Quantitative Management LLC now owns 4,071 shares of the company's stock valued at $394,000 after buying an additional 2,173 shares during the last quarter. Patton Fund Management Inc. acquired a new position in shares of Revvity during the 2nd quarter worth approximately $226,000. CX Institutional grew its position in shares of Revvity by 5.6% during the 2nd quarter. CX Institutional now owns 8,518 shares of the company's stock worth $824,000 after purchasing an additional 449 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Revvity by 14.1% during the 2nd quarter. Fifth Third Bancorp now owns 6,099 shares of the company's stock worth $590,000 after purchasing an additional 755 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company's stock worth $39,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

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.