Charles Schwab Investment Management Inc. Increases Holdings in Revvity Inc. (NYSE:RVTY)

Charles Schwab Investment Management Inc. lifted its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 866,689 shares of the company's stock after purchasing an additional 23,544 shares during the period. Charles Schwab Investment Management Inc. owned 0.72% of Revvity worth $91,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Revvity by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 6,655 shares of the company's stock worth $743,000 after purchasing an additional 776 shares during the period. Russell Investments Group Ltd. lifted its stake in Revvity by 11.2% in the fourth quarter. Russell Investments Group Ltd. now owns 46,387 shares of the company's stock valued at $5,172,000 after buying an additional 4,661 shares during the period. Raymond James Financial Inc. acquired a new position in Revvity in the fourth quarter valued at approximately $2,248,000. Sterling Capital Management LLC raised its position in shares of Revvity by 19.1% during the fourth quarter. Sterling Capital Management LLC now owns 14,773 shares of the company's stock worth $1,649,000 after purchasing an additional 2,372 shares during the period. Finally, Mariner LLC grew its holdings in Revvity by 9.8% during the fourth quarter. Mariner LLC now owns 7,746 shares of the company's stock worth $865,000 after buying an additional 689 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Stock Up 1.6%

NYSE:RVTY traded up $1.46 during midday trading on Friday, reaching $90.91. The company had a trading volume of 1,268,605 shares, compared to its average volume of 1,589,488. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 2.44 and a beta of 0.91. The stock's fifty day simple moving average is $94.94 and its 200-day simple moving average is $100.04. Revvity Inc. has a 12-month low of $85.12 and a 12-month high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last posted 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. 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 analysts' expectations of $711.26 million. During the same period last year, the firm earned $1.22 earnings per share. Revvity's quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid 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 dividend yield of 0.3%. Revvity's payout ratio is 11.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RVTY shares. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price target (down previously from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Bank of America decreased their price target on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. The Goldman Sachs Group decreased their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Robert W. Baird cut their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.