Assenagon Asset Management S.A. Has $561,000 Stake in Revvity Inc. (NYSE:RVTY)

Assenagon Asset Management S.A. lowered its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 73.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,300 shares of the company's stock after selling 14,359 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Revvity were worth $561,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RVTY. Assetmark Inc. raised its position in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. bought a new position in Revvity during the 4th quarter worth $33,000. Quarry LP raised its position in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Millstone Evans Group LLC bought a new position in Revvity during the 4th quarter worth $38,000. Finally, Vermillion Wealth Management Inc. bought a new position in Revvity during the 4th quarter worth $41,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RVTY. Wells Fargo & Company lowered their target price on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Robert W. Baird decreased their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Barclays decreased their price target 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 Financial reiterated an "outperform" rating and set a $120.00 price target (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and an average price target of $125.64.

Revvity Stock Up 0.6%

Shares of RVTY traded up $0.55 during trading hours on Friday, hitting $94.96. The stock had a trading volume of 2,073,084 shares, compared to its average volume of 965,390. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99. The firm has a 50 day simple moving average of $93.05 and a 200-day simple moving average of $106.13. The firm has a market capitalization of $11.19 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. Revvity Inc. has a 1-year low of $87.70 and a 1-year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. Sell-side analysts predict that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. Revvity's dividend payout ratio (DPR) is currently 11.91%.

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.