Cresset Asset Management LLC Reduces Stake in Revvity, Inc. (NYSE:RVTY)

Cresset Asset Management LLC reduced its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 82.9% during the 4th quarter, according to the company in its most recent 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 period. Cresset Asset Management LLC's holdings in Revvity were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of Revvity during the fourth quarter worth approximately $33,000. Quarry LP raised its stake in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Revvity during the fourth quarter worth approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after purchasing an additional 138 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Down 1.0%

Shares of RVTY traded down $0.91 during trading hours on Tuesday, hitting $93.39. 1,072,766 shares of the stock traded hands, compared to its average volume of 948,352. 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 market capitalization of $11.01 billion, a PE ratio of 42.26, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The business has a fifty day moving average of $98.41 and a 200-day moving average of $110.06. Revvity, Inc. has a 1-year low of $88.53 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 (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $662.30 million. During the same quarter last year, the firm earned $0.98 EPS. Revvity's revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. The Goldman Sachs Group lowered their target price on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, UBS Group raised Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the company from $145.00 to $115.00 in a report on Thursday, May 1st. Four 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.64.

Revvity 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.