Cary Street Partners Financial LLC Purchases New Position in Revvity Inc. (NYSE:RVTY)

Key Points

• Cary Street Partners Financial LLC acquired a stake in Revvity Inc. by purchasing 5,398 shares valued at approximately $571,000 in the first quarter.
• Revvity recently announced a quarterly dividend of $0.07 per share, with an annualized yield of 0.3% and a payout ratio of 11.86%.
• Revvity's stock price opened at $86.95 and reported a 4.1% increase in quarterly revenue year-over-year, amounting to $720.28 million.

Cary Street Partners Financial LLC purchased a new position in Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,398 shares of the company's stock, valued at approximately $571,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC purchased a new position in Revvity during the 1st quarter valued at about $44,000. PNC Financial Services Group Inc. boosted its holdings in shares of Revvity by 5.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 35,323 shares of the company's stock valued at $3,737,000 after buying an additional 1,688 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Revvity in the 1st quarter valued at about $373,000. Jefferies Financial Group Inc. bought a new stake in shares of Revvity in the 1st quarter valued at about $1,133,000. Finally, Natixis Advisors LLC boosted its holdings in shares of Revvity by 3.1% in the 1st quarter. Natixis Advisors LLC now owns 14,782 shares of the company's stock valued at $1,564,000 after buying an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Trading Up 2.6%

NYSE:RVTY traded up $2.22 on Tuesday, reaching $88.02. 1,845,564 shares of the company's stock were exchanged, compared to its average volume of 1,187,004. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 2.33 and a beta of 0.91. The business has a fifty day moving average of $95.07 and a 200-day moving average of $100.84. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping 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 business had revenue of $720.28 million during the quarter, compared to the consensus estimate of $711.26 million. During the same period in the previous year, the company posted $1.22 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts expect that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given 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 currently 11.86%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RVTY shares. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Stifel Nicolaus lowered 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. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Bank of America reduced their price target on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Evercore ISI reduced their price target on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $120.07.

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.