Revvity (NYSE:RVTY) Shares Down 3.3% – Time to Sell?

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 mid-day 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 recent analyst reports. KeyCorp increased their target price 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. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Barclays increased their target price on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, December 13th. Four 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

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’s 50 day moving average is $116.57 and its 200 day moving average is $117.66. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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 in the previous year, the business earned $1.25 earnings per share. Research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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 given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is currently 12.67%.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revvity

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its position in Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock worth $2,317,170,000 after purchasing an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. grew its position in Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after acquiring an additional 156,679 shares during the period. Price T Rowe Associates Inc. MD grew its position in Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after acquiring an additional 1,151,821 shares during the period. Janus Henderson Group PLC grew its position in Revvity by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after acquiring an additional 23,650 shares during the period. Finally, State Street Corp grew its position in Revvity by 0.3% during the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares during the period. 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.