Revvity (NYSE:RVTY) Hits New 1-Year Low After Analyst Downgrade

Revvity, Inc. (NYSE:RVTY - Get Free Report) hit 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 changing hands. The stock had previously closed at $91.82.

RVTY has been the subject of several other reports. Wells Fargo & Company reduced their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein cut Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Raymond James reissued an "outperform" rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays lowered their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Revvity has a consensus rating of "Moderate Buy" and a consensus price target of $130.50.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares of the company's stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RVTY. Amalgamated Bank lifted its stake in shares of Revvity by 1.0% during the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company's stock worth $2,516,000 after acquiring an additional 227 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Revvity by 11.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock worth $1,417,000 after purchasing an additional 1,343 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Revvity by 7.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 27,921 shares of the company's stock worth $2,954,000 after purchasing an additional 1,992 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Revvity by 4.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 50,725 shares of the company's stock worth $5,367,000 after buying an additional 2,130 shares during the period. Finally, Continuum Advisory LLC raised its holdings in shares of Revvity by 122.1% during the first quarter. Continuum Advisory LLC now owns 1,046 shares of the company's stock valued at $111,000 after acquiring an additional 575 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

The firm has a market capitalization of $11.33 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. 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's 50 day simple moving average is $104.87 and its two-hundred day simple moving average is $113.09.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the firm earned $1.25 EPS. On average, sell-side analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be given a dividend of $0.07 per share. The ex-dividend date 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 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.