Wells Fargo & Company Issues Pessimistic Forecast for Revvity (NYSE:RVTY) Stock Price

Revvity (NYSE:RVTY) had its price target dropped by equities research analysts at Wells Fargo & Company from $130.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.23% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. KeyCorp lifted their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays decreased their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.42.

Revvity Price Performance

Shares of NYSE:RVTY traded down $1.15 during trading on Thursday, reaching $92.53. 388,627 shares of the company traded hands, compared to its average volume of 887,098. The firm has a market capitalization of $11.12 billion, a PE ratio of 41.89, a PEG ratio of 3.82 and a beta of 1.07. Revvity has a 52 week low of $89.61 and a 52 week 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 company’s 50 day moving average is $107.64 and its two-hundred day moving average is $114.62.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts predict that Revvity will post 4.94 earnings per share for the current year.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company’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 transaction of $1,922,494.10. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 made changes to their positions in the business. Tidal Investments LLC increased its stake in Revvity by 2,388.8% in the 3rd quarter. Tidal Investments LLC now owns 52,787 shares of the company’s stock worth $6,744,000 after acquiring an additional 50,666 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Revvity by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company’s stock worth $18,124,000 after buying an additional 4,263 shares during the last quarter. JPMorgan Chase & Co. grew its position in Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. GAMMA Investing LLC increased its stake in Revvity by 10.8% in the fourth quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $212,000 after acquiring an additional 185 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Revvity by 8.0% during the fourth quarter. Nordea Investment Management AB now owns 9,681 shares of the company’s stock worth $1,084,000 after purchasing an additional 719 shares during the last quarter. Hedge funds and other institutional investors 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.