Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,524 shares of the company's stock, valued at approximately $373,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in Revvity by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 14,262 shares of the company's stock worth $1,508,000 after purchasing an additional 385 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Revvity by 39.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,998 shares of the company's stock worth $1,164,000 after purchasing an additional 3,107 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Revvity during the 1st quarter worth $210,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Revvity by 3.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock worth $544,000 after purchasing an additional 187 shares during the last quarter. Finally, Pullen Investment Management LLC acquired a new stake in Revvity in the first quarter valued at about $377,000. 86.65% of the stock is owned by hedge funds and other institutional investors.
Revvity Price Performance
NYSE RVTY opened at $97.90 on Thursday. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41. The firm's 50 day moving average is $93.10 and its 200-day moving average is $105.73. The company has a market capitalization of $11.54 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. Revvity Inc. has a 12-month low of $87.70 and a 12-month high of $129.50.
Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. The company had revenue of $664.76 million for the quarter, compared to analysts' expectations of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.
Revvity Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio is 11.91%.
Analyst Ratings Changes
Several analysts have weighed in on RVTY shares. Wells Fargo & Company lowered their target price on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Robert W. Baird cut their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Barclays lowered their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group raised 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. Finally, Raymond James Financial reiterated an "outperform" rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $125.64.
Read Our Latest Research Report on RVTY
About Revvity
(
Free Report)
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.
Further Reading
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