Chemistry Wealth Management LLC purchased a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,807 shares of the company's stock, valued at approximately $297,000.
Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in Revvity by 16.7% in the fourth 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 in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after buying an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Revvity by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after buying an additional 1,151,821 shares in the last quarter. Norges Bank bought a new stake in Revvity during the 4th quarter worth about $127,801,000. Finally, GAMMA Investing LLC grew its holdings in Revvity by 15,023.0% during the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after acquiring an additional 285,137 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on RVTY. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Robert W. Baird reduced their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price target 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. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.
Read Our Latest Stock Analysis on RVTY
Revvity Trading Up 3.6%
Shares of NYSE:RVTY traded up $3.38 during mid-day trading on Tuesday, reaching $96.26. The stock had a trading volume of 1,793,358 shares, compared to its average volume of 961,122. The firm has a 50 day simple moving average of $93.14 and a two-hundred day simple moving average of $107.22. Revvity, Inc. has a twelve month low of $87.70 and a twelve month high of $129.50. The firm has a market cap of $11.35 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 3.82 and a beta of 0.97. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.
Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The company had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. During the same period last year, the business posted $0.98 earnings per share. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal 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 issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.29%. Revvity's dividend payout ratio is presently 11.91%.
About Revvity
(
Free Report)
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.
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