Revvity (NYSE:RVTY) Hits New 52-Week Low - What's Next?

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%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RVTY shares. Robert W. Baird lowered their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Bank of America reduced their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and cut their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Stock Down 0.7%

The stock has a market capitalization of $10.01 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.33 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. The business's fifty day moving average price is $95.13 and its two-hundred day moving average price is $101.10.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $720.28 million during the quarter, compared to the consensus estimate of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. Revvity's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, equities research analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity's payout ratio is currently 11.86%.

Institutional Trading of Revvity

Institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its stake in Revvity by 8.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after buying an additional 1,754,403 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Revvity by 0.6% in the first quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock worth $1,521,705,000 after buying an additional 92,638 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Revvity by 25.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after purchasing an additional 1,932,314 shares during the period. Janus Henderson Group PLC lifted its stake in Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock valued at $709,725,000 after acquiring an additional 23,650 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 32.1% in the first quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company's stock worth $567,178,000 after buying an additional 1,302,616 shares during the last quarter. Hedge funds and other 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.