Ethic Inc. Raises Position in Revvity Inc. $RVTY

Key Points

• Ethic Inc. increased its stake in Revvity Inc. by 94.7% during the 1st quarter, acquiring an additional 6,512 shares, bringing its total holdings to 13,391 shares valued at $1.397 million.
• Institutional investors currently own 86.65% of Revvity's stock, indicating strong institutional interest in the company.
• Revvity's recent earnings report showed an EPS of $1.18, exceeding estimates, with a revenue growth of 4.1% year-over-year, and they declared a quarterly dividend of $0.07.

Ethic Inc. raised its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 94.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,391 shares of the company's stock after acquiring an additional 6,512 shares during the period. Ethic Inc.'s holdings in Revvity were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new stake in Revvity during the 4th quarter valued at approximately $33,000. Quarry LP increased its position in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares during the period. Vermillion Wealth Management Inc. acquired a new position in Revvity during the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC acquired a new position in Revvity during the 1st quarter worth approximately $44,000. Finally, Continuum Advisory LLC increased its position in Revvity by 39.3% during the 4th quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after purchasing an additional 133 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 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. Robert W. Baird dropped their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, The Goldman Sachs Group lowered their price target on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.07.

Revvity Price Performance

NYSE:RVTY traded up $4.3690 during trading hours on Friday, reaching $94.0390. 735,939 shares of the company traded hands, compared to its average volume of 1,453,965. The firm's 50-day moving average is $94.57 and its 200-day moving average is $99.05. The stock has a market cap of $10.92 billion, a P/E ratio of 39.85, a P/E/G ratio of 2.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. Revvity Inc. has a 1-year low of $85.12 and a 1-year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.Revvity's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Equities research analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. 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 is 11.86%.

Revvity Company 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.