Breakwater Capital Group Buys Shares of 3,967 Revvity, Inc. (NYSE:RVTY)

Breakwater Capital Group acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,967 shares of the company's stock, valued at approximately $420,000.

Several other large investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Revvity by 16.7% during 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 purchasing an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. raised its holdings in Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after acquiring an additional 156,679 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock valued at $851,764,000 after acquiring an additional 1,151,821 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock valued at $709,725,000 after acquiring an additional 23,650 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after acquiring an additional 1,372,456 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Price Performance

Shares of RVTY stock traded up $1.49 during trading hours on Friday, hitting $91.99. 903,371 shares of the company's stock were exchanged, compared to its average volume of 955,943. The stock's 50-day moving average is $93.51 and its 200-day moving average is $107.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 3.82 and a beta of 0.97. Revvity, Inc. has a 52 week low of $87.70 and a 52 week high of $129.50.

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

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given 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 0.30%. Revvity's payout ratio is presently 11.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays lowered their price objective on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Robert W. Baird lowered their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group lowered their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Raymond James reiterated an "outperform" rating and issued a $120.00 price objective (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $125.64.

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.