Candriam S.C.A. Decreases Position in Revvity Inc. $RVTY

Key Points

• Candriam S.C.A. reduced its holdings in Revvity Inc. by 24.4%, selling 3,048 shares and now owning a total of 9,430 shares valued at approximately $998,000.
• Analysts have revised their price targets for Revvity, with Raymond James lowering it to $115.00, while JPMorgan Chase set theirs at $100.00 as they maintain a "neutral" rating on the stock.
• Revvity announced a quarterly dividend of $0.07, to be paid on November 7th, reflecting an annualized dividend yield of 0.3% and a payout ratio of 11.86%.

Candriam S.C.A. lessened its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 24.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,430 shares of the company's stock after selling 3,048 shares during the quarter. Candriam S.C.A.'s holdings in Revvity were worth $998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RVTY. Optiver Holding B.V. purchased a new position in Revvity during the 4th quarter valued at about $33,000. Quarry LP grew its position in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Revvity during the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC acquired a new position in shares of Revvity during the 1st quarter worth approximately $44,000. Finally, Continuum Advisory LLC raised 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 purchasing an additional 133 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America lowered their target price on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Stifel Nicolaus cut their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Finally, Evercore ISI decreased their price target on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Trading Up 1.1%

Revvity stock traded up $0.98 during trading on Friday, reaching $90.21. The company had a trading volume of 786,177 shares, compared to its average volume of 1,133,210. Revvity Inc. has a 12-month low of $85.12 and a 12-month 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. The stock's 50 day moving average price is $94.11 and its two-hundred day moving average price is $98.02. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.42 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The company 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%. Revvity's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is 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.