Adage Capital Partners GP L.L.C. Has $4.32 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Adage Capital Partners GP L.L.C. lessened its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 41.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,688 shares of the company's stock after selling 27,600 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Revvity were worth $4,318,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Revvity by 17.4% in the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after buying an additional 10,390 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Revvity by 13.7% in the 3rd 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 during the period. Contravisory Investment Management Inc. boosted its stake in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Janney Montgomery Scott LLC grew its position in Revvity by 87.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after purchasing an additional 3,672 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revvity by 41.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company's stock valued at $1,352,000 after purchasing an additional 3,542 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Trading Up 1.2 %

Shares of NYSE RVTY traded up $1.14 during midday trading on Friday, hitting $94.04. The stock had a trading volume of 944,884 shares, compared to its average volume of 930,726. The firm has a market cap of $11.30 billion, a P/E ratio of 42.55, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a fifty-two week low of $88.53 and a fifty-two week high of $129.50. 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 simple moving average is $102.80 and its 200 day simple moving average is $112.12.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. The firm had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The company's revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio is presently 11.91%.

Analysts Set New Price Targets

Several research firms have commented on RVTY. Sanford C. Bernstein cut 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 note on Friday, January 10th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $145.00 to $115.00 in a report on Thursday. Barclays decreased their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Raymond James reissued an "outperform" rating and issued a $120.00 price objective (down previously from $145.00) on shares of Revvity in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday. Four investment 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. According to MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity 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.