Raymond James Financial Inc. Takes $2.25 Million Position in Revvity, Inc. (NYSE:RVTY)

Raymond James Financial Inc. bought a new position in Revvity, Inc. (NYSE:RVTY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,138 shares of the company's stock, valued at approximately $2,248,000.

Several other large investors also recently bought and sold shares of RVTY. Assetmark Inc. lifted its stake in shares of Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after buying an additional 259 shares during the period. Millstone Evans Group LLC purchased a new stake in Revvity during the 4th quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after purchasing an additional 138 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $58,000 after purchasing an additional 131 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company's stock worth $67,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Price Performance

Shares of RVTY traded down $2.31 during mid-day trading on Tuesday, hitting $90.52. 861,327 shares of the company were exchanged, compared to its average volume of 929,963. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 1-year low of $88.53 and a 1-year high of $129.50. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The company has a 50 day moving average of $101.95 and a 200-day moving average of $111.68.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same quarter last year, the business posted $0.98 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, July 18th. Revvity's payout ratio is 11.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RVTY shares. Wells Fargo & Company cut their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and lowered their price target for the company from $145.00 to $115.00 in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays decreased their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Raymond James reaffirmed an "outperform" rating and set a $120.00 target price (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Company Profile

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.