Wells Fargo & Company Has Lowered Expectations for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY - Free Report) had its target price decreased by Wells Fargo & Company from $130.00 to $102.00 in a research note released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on RVTY. 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. KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, Barclays lowered their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Revvity presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.50.

Revvity Price Performance

Shares of Revvity stock traded up $2.67 on Thursday, hitting $92.44. 1,510,685 shares of the company were exchanged, compared to its average volume of 899,986. Revvity has a 1-year low of $88.53 and a 1-year high of $129.50. 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 $11.11 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company has a 50-day moving average price of $106.34 and a 200 day moving average price of $113.76.

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, topping the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter last year, the firm posted $1.25 EPS. As a group, sell-side analysts predict that Revvity will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm 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 $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. Revvity's payout ratio is currently 12.67%.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the business's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by company insiders.

Institutional Trading of Revvity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Revvity during the 1st quarter worth approximately $373,000. State of Alaska Department of Revenue boosted its holdings in shares of Revvity by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 14,262 shares of the company's stock valued at $1,508,000 after acquiring an additional 385 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Revvity by 39.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,998 shares of the company's stock worth $1,164,000 after acquiring an additional 3,107 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Revvity in the 1st quarter valued at $210,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Revvity by 3.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

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.