Cresset Asset Management LLC Sells 11,549 Shares of Revvity, Inc. (NYSE:RVTY)

Cresset Asset Management LLC cut its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 82.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,380 shares of the company's stock after selling 11,549 shares during the quarter. Cresset Asset Management LLC's holdings in Revvity were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP lifted its stake in shares of Revvity by 45.7% in the 4th quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the period. HB Wealth Management LLC lifted its stake in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock valued at $266,000 after purchasing an additional 104 shares during the period. Signaturefd LLC lifted its stake in shares of Revvity by 6.8% in the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company's stock valued at $186,000 after purchasing an additional 106 shares during the period. Westside Investment Management Inc. increased its position in Revvity by 0.8% in the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company's stock valued at $1,603,000 after buying an additional 108 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Revvity by 33.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after buying an additional 131 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

Revvity stock traded down $1.01 during trading on Friday, hitting $89.47. The stock had a trading volume of 1,023,503 shares, compared to its average volume of 950,377. Revvity, Inc. has a 1 year low of $88.01 and a 1 year high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average is $96.71 and its two-hundred day moving average is $109.32. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. Revvity's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.31%. Revvity's payout ratio is 11.91%.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Barclays decreased their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Robert W. Baird decreased their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Raymond James reissued an "outperform" rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.