ASR Vermogensbeheer N.V. Makes New $772,000 Investment in Revvity Inc. (NYSE:RVTY)

Key Points

• ASR Vermogensbeheer N.V. has taken a new position in Revvity Inc. (NYSE:RVTY) by acquiring 7,295 shares valued at approximately $772,000 in the first quarter.
• Multiple institutional investors have increased their stakes in Revvity, with significant increases noted from Invesco Ltd. and Wellington Management Group LLP, reflecting a strong interest in the company.
• Revvity announced a quarterly dividend of $0.07 per share, which will be paid on November 7th, indicating a commitment to returning value to shareholders.

ASR Vermogensbeheer N.V. acquired a new position in Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,295 shares of the company's stock, valued at approximately $772,000.

Several other hedge funds and other institutional investors have also modified their holdings of RVTY. Optiver Holding B.V. acquired a new stake in Revvity during the fourth quarter worth $33,000. Quarry LP boosted its stake in Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after buying an additional 95 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Revvity during the fourth quarter worth $41,000. New Age Alpha Advisors LLC acquired a new stake in Revvity during the first quarter worth $44,000. Finally, Continuum Advisory LLC boosted its stake in Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on RVTY. Evercore ISI reduced their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. reduced their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Raymond James Financial restated an "outperform" rating and issued a $115.00 target price (down previously from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Robert W. Baird reduced their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Price Performance

Shares of Revvity stock traded down $1.45 during trading on Thursday, reaching $89.48. The company's stock had a trading volume of 722,929 shares, compared to its average volume of 1,186,742. The stock has a 50-day moving average price of $94.98 and a two-hundred day moving average price of $100.68. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. Revvity Inc. has a one year low of $85.12 and a one year high of $129.50. The stock has a market capitalization of $10.39 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The business had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. During the same period in the previous year, the business posted $1.22 earnings per share. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's payout ratio is currently 11.86%.

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.