Revvity (NYSE:RVTY) Sets New 12-Month Low - Here's What Happened

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

Analysts Set New Price Targets

RVTY has been the subject of several recent research reports. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Barclays increased their price target on Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. KeyCorp boosted their price target on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Raymond James restated an "outperform" rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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 fifty day simple moving average of $111.30 and a 200-day simple moving average of $115.83. The firm has a market cap of $12.19 billion, a P/E ratio of 45.92, a P/E/G ratio of 3.82 and a beta of 1.07.

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Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 in the previous year, the firm earned $1.25 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. Revvity's payout ratio is 12.67%.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction dated 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 sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Revvity

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