Breakwater Capital Group Takes $420,000 Position in Revvity, Inc. (NYSE:RVTY)

Breakwater Capital Group acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,967 shares of the company's stock, valued at approximately $420,000.

A number of other institutional investors have also added to or reduced their stakes in RVTY. Assetmark Inc. grew its position in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. bought a new stake in Revvity during the fourth quarter valued at $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 valued at $34,000 after buying an additional 95 shares during the period. Millstone Evans Group LLC purchased a new position in Revvity during the fourth quarter worth about $38,000. Finally, Vermillion Wealth Management Inc. bought a new position in Revvity in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Barclays decreased their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company decreased their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Revvity has a consensus rating of "Moderate Buy" and an average target price of $125.64.

Revvity Trading Up 1.0%

RVTY traded up $0.94 on Monday, hitting $92.91. 1,157,602 shares of the company were exchanged, compared to its average volume of 957,626. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm has a fifty day simple moving average of $93.51 and a two-hundred day simple moving average of $107.43. The stock has a market capitalization of $10.95 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 3.82 and a beta of 0.97. Revvity, Inc. has a 12 month low of $87.70 and a 12 month high of $129.50.

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

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio (DPR) is currently 11.91%.

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.