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

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

Analyst Upgrades and Downgrades

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

Revvity Stock Down 3.0 %

The stock 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. 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 company’s 50-day moving average price is $116.89 and its 200 day moving average price is $117.79.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter last year, the company posted $1.25 earnings per share. As a group, 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, May 9th. Investors of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the company’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 completion of the transaction, 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 disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its stake in Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock worth $30,000 after purchasing an additional 259 shares during the period. Optiver Holding B.V. bought a new position in Revvity in the 4th quarter worth approximately $33,000. Quarry LP boosted its stake in Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after purchasing an additional 95 shares during the period. Continuum Advisory LLC boosted its stake in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Revvity in the 4th quarter worth approximately $38,000. 86.65% of the stock is currently owned by institutional investors.

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.