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

A number of other hedge funds also recently modified their holdings of RVTY. Nissay Asset Management Corp Japan ADV lifted its position in shares of Revvity by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock worth $1,682,000 after buying an additional 91 shares in the last quarter. Quarry LP lifted its position in shares of Revvity by 45.7% during the 4th 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. HB Wealth Management LLC lifted its position in shares of Revvity by 4.8% during the 1st quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock worth $264,000 after buying an additional 114 shares in the last quarter. RDA Financial Network lifted its position in shares of Revvity by 3.6% during the 1st quarter. RDA Financial Network now owns 3,331 shares of the company's stock worth $352,000 after buying an additional 115 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Revvity by 39.3% during the 4th 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.

Wall Street Analysts Forecast Growth

RVTY has been the subject of a number of research reports. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and reduced their target price for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Stifel Nicolaus reduced their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Wells Fargo & Company reduced their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Evercore ISI cut their price objective on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $120.07.

Revvity Trading Up 0.2%

NYSE:RVTY traded up $0.16 during trading hours on Thursday, reaching $86.06. The company's stock had a trading volume of 34,532 shares, compared to its average volume of 1,181,535. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.38 and a beta of 0.91. The firm has a 50-day simple moving average of $95.42 and a 200-day simple moving average of $101.99. Revvity Inc. has a 1 year low of $85.12 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Research analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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

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.