Ethic Inc. Acquires 6,512 Shares of 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 position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 94.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,391 shares of the company's stock after purchasing an additional 6,512 shares during the quarter. Ethic Inc.'s holdings in Revvity were worth $1,397,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Aberdeen Group plc lifted its holdings in Revvity by 141.8% during the first quarter. Aberdeen Group plc now owns 106,041 shares of the company's stock valued at $11,149,000 after purchasing an additional 62,192 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Revvity by 41.7% during the first quarter. Kovitz Investment Group Partners LLC now owns 9,464 shares of the company's stock valued at $1,001,000 after buying an additional 2,784 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Revvity by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 13,846 shares of the company's stock valued at $1,465,000 after buying an additional 1,291 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Revvity by 6.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,488 shares of the company's stock valued at $475,000 after buying an additional 286 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company's stock valued at $73,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird reduced their price objective on shares of 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. reduced their price objective on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Revvity has an average rating of "Moderate Buy" and an average price target of $120.07.

Revvity Price Performance

Shares of NYSE:RVTY traded up $4.3690 on Friday, reaching $94.0390. The company's stock had a trading volume of 735,939 shares, compared to its average volume of 1,390,790. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50. The company has a market cap of $10.92 billion, a P/E ratio of 39.85, a PEG ratio of 2.53 and a beta of 0.91. The company has a 50-day simple moving average of $94.57 and a 200 day simple moving average of $98.75. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio is presently 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.