Family Legacy Financial Solutions LLC Takes $5.35 Million Position in Revvity Inc. $RVTY

Key Points

• Family Legacy Financial Solutions LLC has invested $5.35 million in Revvity Inc., acquiring 54,208 shares, which constitutes about 4.5% of its investment portfolio.
• The company reported earnings of $1.18 per share for the last quarter, surpassing analysts' expectations, with revenue increasing by 4.1% year-over-year to $720.28 million.
• Revvity has announced a quarterly dividend of $0.07 to be distributed on November 7th, representing an annualized dividend yield of 0.3%.

Family Legacy Financial Solutions LLC purchased a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 54,208 shares of the company's stock, valued at approximately $5,351,000. Revvity comprises about 4.5% of Family Legacy Financial Solutions LLC's portfolio, making the stock its 7th largest position.

Several other hedge funds have also bought and sold shares of RVTY. Vermillion Wealth Management Inc. acquired a new position in Revvity in the 4th quarter valued at $41,000. New Age Alpha Advisors LLC purchased a new position in shares of Revvity in the 1st quarter valued at about $44,000. Continuum Advisory LLC lifted its stake in Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after purchasing an additional 133 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company's stock worth $73,000 after buying an additional 140 shares during the period. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Revvity during the first quarter worth approximately $75,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI dropped their target price on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price target on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Bank of America lowered their target price on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Stock Down 1.2%

RVTY traded down $1.08 during trading on Friday, reaching $86.68. 3,530,393 shares of the stock traded hands, compared to its average volume of 1,176,729. Revvity Inc. has a fifty-two week low of $81.36 and a fifty-two week high of $129.50. The stock's 50-day simple moving average is $90.03 and its two-hundred day simple moving average is $95.31. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. 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 (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The business had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. During the same period in the previous year, the company posted $1.22 earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities research analysts expect that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity's dividend payout ratio is currently 11.86%.

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.