Revvity (NYSE:RVTY) Reaches New 52-Week Low - Here's What Happened

Key Points

• Revvity Inc. reached a new 52-week low of $85.27, with the stock closing at $87.41 after recent trading activity.
• Analysts have mixed ratings for Revvity, with several upgrades to a "buy" rating but price targets reduced to between $110 and $115.
• The company recently announced a quarterly dividend of $0.07 per share, representing an annualized dividend yield of 0.3% and a payout ratio of 11.86%.

Revvity Inc. (NYSE:RVTY - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $85.27 and last traded at $87.41, with a volume of 1306 shares changing hands. The stock had previously closed at $87.90.

Analyst Ratings Changes

A number of equities research analysts recently commented on RVTY shares. Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group cut their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Bank of America reduced their target price on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Trading Up 0.3%

The firm's 50 day moving average is $95.51 and its 200 day moving average is $102.41. The company has a market cap of $10.40 billion, a PE ratio of 18.04, a PEG ratio of 2.37 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 posted its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The firm had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. During the same period in the prior year, the business earned $1.22 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

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

Institutional Investors Weigh In On Revvity

Institutional investors have recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV raised its holdings in Revvity by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after buying an additional 91 shares during the last quarter. Quarry LP raised its holdings in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after buying an additional 95 shares during the last quarter. HB Wealth Management LLC raised its holdings in Revvity by 4.8% during the 1st quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock valued at $264,000 after buying an additional 114 shares during the last quarter. RDA Financial Network raised its holdings in Revvity by 3.6% in the 1st quarter. RDA Financial Network now owns 3,331 shares of the company's stock worth $352,000 after purchasing an additional 115 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Revvity by 39.3% in the 4th quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after purchasing an additional 133 shares during the period. 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.