Federated Hermes Inc. Increases Stake in Revvity Inc. (NYSE:RVTY)

Key Points

• Federated Hermes Inc. increased its stake in Revvity Inc. by 2.7% to approximately $24.93 million, owning 235,664 shares at the end of the most recent quarter.
• Revvity reported earnings of $1.18 EPS, exceeding expectations and showing a 4.1% year-over-year increase in revenue to $720.28 million.
• The company declared a quarterly dividend of $0.07 per share, with an annualized yield of 0.3%, and a dividend payout ratio of 11.86%.

Federated Hermes Inc. raised its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,664 shares of the company's stock after acquiring an additional 6,140 shares during the period. Federated Hermes Inc. owned 0.20% of Revvity worth $24,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Orion Portfolio Solutions LLC increased its holdings in Revvity by 6.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,030 shares of the company's stock valued at $561,000 after buying an additional 284 shares in the last quarter. Allstate Corp acquired a new position in shares of Revvity in the 4th quarter valued at $407,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Revvity by 19.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,892 shares of the company's stock valued at $658,000 after purchasing an additional 939 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Revvity by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 6,655 shares of the company's stock valued at $743,000 after purchasing an additional 776 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Revvity by 6,177.9% in the 4th quarter. National Bank of Canada FI now owns 32,896 shares of the company's stock valued at $3,672,000 after acquiring an additional 32,372 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Bank of America reduced their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. UBS Group upgraded shares of 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 research note on Thursday, May 1st. Stifel Nicolaus reduced their price target on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a report on Sunday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.07.

Revvity Price Performance

RVTY traded up $0.30 on Friday, hitting $88.20. 1,601,103 shares of the stock were exchanged, compared to its average volume of 1,476,599. Revvity Inc. has a 12 month low of $85.80 and a 12 month high of $129.50. The business has a 50-day moving average of $95.51 and a two-hundred day moving average of $102.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.99. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.37 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Sell-side analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given 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 dividend yield of 0.3%. Revvity's dividend payout ratio (DPR) 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.