Revvity (NYSE:RVTY) Trading Down 3.3% – What’s Next?

Revvity, Inc. (NYSE:RVTY) shares fell 3.3% during mid-day trading on Wednesday . The stock traded as low as $107.88 and last traded at $109.00. 484,340 shares were traded during trading, a decline of 43% from the average session volume of 843,262 shares. The stock had previously closed at $112.69.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RVTY. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Barclays increased their price target on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.25.

Revvity Stock Performance

The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The business has a 50 day simple moving average of $116.89 and a two-hundred day simple moving average of $117.79. The firm has a market cap of $13.13 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last released its earnings results on Friday, January 31st. The company reported $1.42 earnings per share 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 period last year, the business earned $1.25 EPS. As a group, equities research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction 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 transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Revvity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its position in Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. bought a new stake in Revvity during the fourth quarter valued at about $33,000. Quarry LP boosted its position in Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Continuum Advisory LLC boosted its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Revvity during the fourth quarter valued at about $38,000. 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.