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

Revvity, Inc. (NYSE:RVTY) dropped 3.3% on Wednesday . The stock traded as low as $107.88 and last traded at $109.00. Approximately 484,340 shares changed hands 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 Ratings Changes

RVTY has been the subject of several analyst reports. Raymond James reaffirmed 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. KeyCorp boosted their price target on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Barclays boosted 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. Finally, Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Price Performance

The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $116.57 and a two-hundred day moving average price of $117.66. The firm has a market capitalization 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 results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $1.25 EPS. As a group, research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is 12.67%.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The stock was 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 trade represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 of the company’s stock, valued at approximately $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

Large investors have recently modified their holdings of the stock. Assetmark Inc. boosted its stake in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 259 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Revvity in the fourth quarter valued at $33,000. Quarry LP lifted its holdings in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Revvity in the fourth quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Revvity in the fourth quarter valued at $41,000. 86.65% of the stock is owned by 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.