Revvity (NYSE:RVTY) Stock Price Down 2.8% – Time to Sell?

Revvity, Inc. (NYSE:RVTY) shares traded down 2.8% on Wednesday . The company traded as low as $119.70 and last traded at $120.83. 110,596 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 813,755 shares. The stock had previously closed at $124.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America increased their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $127.20.

Revvity Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The company has a market capitalization of $14.69 billion, a PE ratio of 98.39, a P/E/G ratio of 3.35 and a beta of 1.05. The company’s 50-day simple moving average is $121.59 and its 200-day simple moving average is $112.87.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same period last year, the firm posted $1.21 EPS. Revvity’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,807 shares of company stock worth $937,576. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Revvity

Several hedge funds and other institutional investors have recently made changes to their positions in RVTY. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity in the second quarter valued at about $209,221,000. Goldman Sachs Group Inc. acquired a new stake in shares of Revvity in the fourth quarter valued at about $45,453,000. Jane Street Group LLC lifted its stake in shares of Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after purchasing an additional 379,802 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Revvity by 18.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after purchasing an additional 332,632 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Revvity by 3.9% in the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after purchasing an additional 210,100 shares during the period. Institutional investors and hedge funds 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.