Revvity (NYSE:RVTY) Reaches New 1-Year Low - Here's What Happened

Key Points

• Revvity Inc. shares fell to a new 1-year low, trading at $85.12, with analysts cutting price targets and ratings amid market concerns.
• The company reported $1.18 earnings per share for the last quarter, exceeding expectations, while revenue increased by 4.1% year-over-year.
• Revvity announced a quarterly dividend of $0.07, with an annualized yield of 0.3%, reflecting a modest dividend payout ratio of 11.86%.

Revvity Inc. (NYSE:RVTY - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $85.12 and last traded at $85.92, with a volume of 1216336 shares trading hands. The stock had previously closed at $88.68.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RVTY. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays reduced their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Evercore ISI reduced their price objective on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (down previously from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus reduced their price objective on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.07.

Revvity Price Performance

The company has a 50 day moving average price of $95.42 and a 200 day moving average price of $101.99. The firm has a market cap of $10.13 billion, a PE ratio of 36.41, a PEG ratio of 2.38 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. Revvity's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. Sell-side analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be given a $0.07 dividend. The ex-dividend date is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity's dividend payout ratio is presently 11.86%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RVTY. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Revvity by 0.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after acquiring an additional 91 shares during the last quarter. Quarry LP boosted its stake in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Revvity by 4.8% during the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock valued at $264,000 after acquiring an additional 114 shares during the last quarter. RDA Financial Network boosted its stake in shares of Revvity by 3.6% during the first quarter. RDA Financial Network now owns 3,331 shares of the company's stock valued at $352,000 after acquiring an additional 115 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors 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.

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