Drake & Associates LLC Acquires 12,553 Shares of Revvity Inc. $RVTY

Key Points

• Drake & Associates LLC boosted its holdings in Revvity Inc. by 83.7%, acquiring an additional 12,553 shares, bringing its total to 27,550 shares valued at approximately $2,665,000.
• Revvity reported a quarterly EPS of $1.18, exceeding estimates, with a revenue of $720.28 million, reflecting a year-over-year increase of 4.1%.
• The company announced a quarterly dividend of $0.07 per share, set to be paid on November 7, and has a dividend yield of 0.3%.

Drake & Associates LLC increased its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 83.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,550 shares of the company's stock after buying an additional 12,553 shares during the period. Revvity accounts for 0.7% of Drake & Associates LLC's investment portfolio, making the stock its 29th biggest position. Drake & Associates LLC's holdings in Revvity were worth $2,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Revvity by 8.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after acquiring an additional 1,754,403 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Revvity by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock worth $1,521,705,000 after purchasing an additional 92,638 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after purchasing an additional 1,932,314 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Revvity by 32.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company's stock valued at $567,178,000 after buying an additional 1,302,616 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Revvity by 1.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,444,645 shares of the company's stock valued at $364,443,000 after buying an additional 62,307 shares during the period. Institutional investors own 86.65% of the company's stock.

Revvity Stock Performance

Shares of NYSE RVTY opened at $93.38 on Tuesday. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 3.14 and a beta of 0.98. 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 Inc. has a 1-year low of $81.36 and a 1-year high of $129.50. The stock's 50-day moving average is $88.05 and its 200 day moving average is $93.20.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.Revvity's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, sell-side analysts anticipate 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, November 7th. Investors of record on Friday, October 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is presently 11.86%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James Financial restated an "outperform" rating and issued a $115.00 price objective (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Bank of America decreased their target price on Revvity from $110.00 to $99.00 and set a "buy" rating on the stock in a research note on Monday, September 22nd. Barclays lowered their price target on Revvity from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday. Weiss Ratings reissued a "hold (c-)" rating on shares of Revvity in a report on Saturday, September 27th. Finally, Stifel Nicolaus lowered their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $118.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.