Chemistry Wealth Management LLC Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Chemistry Wealth Management LLC bought 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. The institutional investor bought 2,807 shares of the company's stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Revvity by 16.7% in the 4th 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. boosted its position in shares of Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after purchasing an additional 1,372,456 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Revvity by 17.8% in 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 purchasing an additional 1,151,821 shares in the last quarter. Norges Bank bought a new stake in shares of Revvity in the 4th quarter worth approximately $127,801,000. Finally, GAMMA Investing LLC boosted its position in shares of Revvity by 15,023.0% in the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after purchasing an additional 285,137 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Price Performance

Shares of RVTY opened at $91.99 on Friday. The firm has a market cap of $10.84 billion, a PE ratio of 41.63, a P/E/G 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. The firm has a fifty day simple moving average of $93.51 and a two-hundred day simple moving average of $107.48. Revvity, Inc. has a 1-year low of $87.70 and a 1-year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, equities analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. Revvity's dividend payout ratio is presently 11.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James reissued an "outperform" rating and issued a $120.00 price target (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Robert W. Baird dropped their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity currently has an average rating of "Moderate Buy" and an average target price of $125.64.

About Revvity

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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