Bryce Point Capital LLC Acquires Shares of 6,802 Revvity Inc. (NYSE:RVTY)

Key Points

• Bryce Point Capital LLC acquired a new stake in Revvity Inc., purchasing 6,802 shares valued at approximately $784,000.
• Several research analysts have lowered their target price for Revvity, with Goldman Sachs setting it at $125.00 and Bank of America at $110.00, while maintaining overall positive ratings.
• Revvity recently declared a quarterly dividend of $0.07 per share, representing an annualized yield of 0.27% and a payout ratio of 11.91%.

Bryce Point Capital LLC acquired a new position in Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,802 shares of the company's stock, valued at approximately $784,000.

A number of other hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Revvity by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock worth $1,682,000 after acquiring an additional 91 shares during the period. Quarry LP lifted its position in shares of Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after acquiring an additional 95 shares during the period. HB Wealth Management LLC lifted its position in shares of Revvity by 4.8% in the 1st quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock worth $264,000 after acquiring an additional 114 shares during the period. RDA Financial Network lifted its position in shares of Revvity by 3.6% in the 1st quarter. RDA Financial Network now owns 3,331 shares of the company's stock worth $352,000 after acquiring an additional 115 shares during the period. 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 during the period. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

RVTY has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price target on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price target (down from $120.00) on shares of Revvity in a report on Tuesday. Robert W. Baird dropped 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. Finally, Wall Street Zen raised Revvity from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Stock Down 2.0%

Shares of NYSE RVTY traded down $1.81 during mid-day trading on Thursday, reaching $89.04. 696,630 shares of the company's stock were exchanged, compared to its average volume of 1,182,417. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.34 and a beta of 0.98. The company has a current ratio of 3.33, a quick ratio of 2.99 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $95.59 and a 200 day simple moving average of $102.99. Revvity Inc. has a twelve month low of $87.70 and a twelve month high of $129.50.

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

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors 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 0.31%. Revvity's payout ratio is presently 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.