Blueshift Asset Management LLC Makes New $373,000 Investment in Revvity Inc. (NYSE:RVTY)

Key Points

• Blueshift Asset Management LLC has acquired 3,529 shares of Revvity Inc., valued at approximately $373,000, highlighting growing institutional interest in the company.
• Revvity is set to pay a quarterly dividend of $0.07 per share on November 7th, as part of an annualized yield of 0.3% with a low dividend payout ratio of 11.86%.
• The stock currently has a consensus rating of "Moderate Buy" with a consensus target price of $120.07, reflecting analysts' mixed reviews on its valuation and growth potential.

Blueshift Asset Management LLC purchased a new stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,529 shares of the company's stock, valued at approximately $373,000.

Several other hedge funds also recently modified their holdings of RVTY. T. Rowe Price Investment Management Inc. grew its holdings in shares of Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after acquiring an additional 2,969,326 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after buying an additional 1,151,821 shares during the period. Janus Henderson Group PLC boosted its position in shares of Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after buying an additional 23,650 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after buying an additional 1,372,456 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Revvity by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company's stock worth $322,958,000 after buying an additional 37,666 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI decreased their target price on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Bank of America reduced their price objective on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research report on Sunday. Robert W. Baird reduced their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 price target (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.07.

Revvity Price Performance

NYSE RVTY traded up $0.09 during trading on Tuesday, reaching $88.41. 67,027 shares of the company traded hands, compared to its average volume of 1,181,354. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. The stock's 50 day moving average price is $95.49 and its two-hundred day moving average price is $102.08. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.37 and a beta of 0.91. Revvity Inc. has a 1-year low of $85.80 and a 1-year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $711.26 million. During the same period in the previous year, the business earned $1.22 EPS. Revvity's revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Revvity Inc. will post 4.94 EPS for the current 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. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity's dividend 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.