Invesco Ltd. Increases Holdings in Revvity Inc. $RVTY

Key Points

• Invesco Ltd. increased its stake in Revvity Inc. by 0.8%, owning a total of 1,754,859 shares worth approximately $185.66 million.
• Revvity recently reported an earnings per share (EPS) of $1.18, surpassing analysts' expectations of $1.14, with a revenue of $720.28 million for the quarter.
• The company has declared a quarterly dividend of $0.07 per share, representing an annualized yield of 0.3%, with the ex-dividend date on October 17th.

Invesco Ltd. raised its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,754,859 shares of the company's stock after purchasing an additional 13,926 shares during the quarter. Invesco Ltd. owned 1.49% of Revvity worth $185,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV grew its stake in Revvity by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after purchasing an additional 91 shares during the period. Quarry LP lifted its stake in Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. HB Wealth Management LLC lifted its stake in Revvity by 4.8% in the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock valued at $264,000 after purchasing an additional 114 shares during the last quarter. RDA Financial Network lifted its stake in Revvity by 3.6% in the first quarter. RDA Financial Network now owns 3,331 shares of the company's stock valued at $352,000 after purchasing an additional 115 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in Revvity by 39.3% in the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RVTY shares. JPMorgan Chase & Co. cut their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Bank of America cut their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Robert W. Baird cut their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group cut their price target on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Price Performance

Shares of RVTY traded up $0.23 during trading hours on Monday, reaching $91.01. 213,690 shares of the company's stock traded hands, compared to its average volume of 1,180,890. The stock has a market cap of $10.56 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.44 and a beta of 0.91. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $94.94 and its 200-day simple moving average is $99.85. Revvity Inc. has a 12 month low of $85.12 and a 12 month high of $129.50.

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

Revvity Dividend Announcement

The firm also recently declared 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is 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.