Revvity (NYSE:RVTY) Sets New 52-Week Low Following Analyst Downgrade

Shares of Revvity, Inc. (NYSE:RVTY - Get Free Report) reached a new 52-week low on Monday after Robert W. Baird lowered their price target on the stock from $141.00 to $127.00. Robert W. Baird currently has an outperform rating on the stock. Revvity traded as low as $89.57 and last traded at $90.32, with a volume of 67414 shares trading hands. The stock had previously closed at $91.82.

A number of other equities analysts have also recently commented on RVTY. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Barclays lowered their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Raymond James reissued 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, Wells Fargo & Company lowered their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Revvity currently has an average rating of "Moderate Buy" and a consensus price target of $130.50.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now directly owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RVTY. Assetmark Inc. raised its stake in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Revvity during the 4th quarter worth approximately $33,000. Quarry LP lifted its holdings in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after buying an additional 95 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Revvity in the fourth quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Revvity in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The company has a 50 day moving average price of $105.56 and a 200 day moving average price of $113.47. The firm has a market cap of $11.23 billion, a PE ratio of 42.28, a PEG ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last posted 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 period last year, the business earned $1.25 EPS. Sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

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.