Revvity (NYSE:RVTY) Trading Down 3.3% - Time to Sell?

Revvity, Inc. (NYSE:RVTY - Get Free Report) traded down 3.3% during trading on Wednesday . The stock traded as low as $107.88 and last traded at $109.00. 484,340 shares were traded during mid-day 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 equities research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price 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 target price for the company. in a research note on Friday, January 10th. Finally, Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Revvity has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

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Revvity Price Performance

The firm has a fifty day moving average price of $116.44 and a two-hundred day moving average price of $117.54. 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 stock has a market capitalization of $12.88 billion, a P/E ratio of 48.50, a P/E/G ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates 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. On average, analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a $0.07 dividend. 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 Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company's stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Revvity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in Revvity during the third quarter valued at about $227,000. Natixis Advisors LLC lifted its position in shares of Revvity by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 12,499 shares of the company's stock valued at $1,597,000 after buying an additional 1,901 shares in the last quarter. Quest Partners LLC bought a new position in shares of Revvity during the 3rd quarter valued at approximately $126,000. Pathstone Holdings LLC increased its holdings in Revvity by 70.0% in the 3rd quarter. Pathstone Holdings LLC now owns 21,358 shares of the company's stock worth $2,728,000 after acquiring an additional 8,791 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Revvity during the 3rd quarter worth approximately $393,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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.