Revvity (NYSE:RVTY) Reaches New 52-Week Low – Here’s Why

by · The Markets Daily

Shares of Revvity, Inc. (NYSE:RVTY – Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $93.54 and last traded at $95.09, with a volume of 630768 shares traded. The stock had previously closed at $100.75.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Barclays lifted their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

View Our Latest Stock Analysis on RVTY

Revvity Stock Performance

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 firm has a market capitalization of $11.50 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The firm’s 50 day moving average price is $113.75 and its 200-day moving average price is $116.73.

Revvity (NYSE:RVTY – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.25 EPS. On average, research analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. Revvity’s dividend payout ratio (DPR) is 12.67%.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in Revvity by 489.0% during the 1st quarter. Versant Capital Management Inc now owns 1,814 shares of the company’s stock worth $192,000 after purchasing an additional 1,506 shares during the period. Wellington Management Group LLP raised its holdings in Revvity by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 6,655 shares of the company’s stock valued at $743,000 after acquiring an additional 776 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Revvity by 20.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,952 shares of the company’s stock worth $553,000 after acquiring an additional 838 shares during the last quarter. Dogwood Wealth Management LLC raised its holdings in shares of Revvity by 16.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 4,987 shares of the company’s stock valued at $557,000 after purchasing an additional 717 shares in the last quarter. Finally, Siemens Fonds Invest GmbH raised its stake in Revvity by 264.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 13,357 shares of the company’s stock valued at $1,491,000 after buying an additional 9,696 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Company Profile

(Get Free Report)

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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