Kestra Advisory Services LLC Acquires 5,432 Shares of Revvity Inc. $RVTY

Key Points

• Kestra Advisory Services LLC significantly increased its holdings in Revvity Inc. by 128.6%, owning 9,657 shares valued at $1,022,000.
• Multiple institutional investors, including Quarry LP and Caitong International Asset Management, have also increased their stakes in Revvity, indicating strong institutional interest.
• Revvity's recent quarterly earnings surpassed expectations, reporting $1.18 earnings per share and $720.28 million in revenue, with a projected FY 2025 guidance of 4.850-4.950 EPS.

Kestra Advisory Services LLC grew its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 128.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,657 shares of the company's stock after buying an additional 5,432 shares during the quarter. Kestra Advisory Services LLC's holdings in Revvity were worth $1,022,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RVTY. Price T Rowe Associates Inc. MD raised its stake in shares of Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock valued at $1,011,863,000 after buying an additional 1,932,314 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Revvity by 8.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after purchasing an additional 1,754,403 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Revvity by 51.1% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after purchasing an additional 1,372,456 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Revvity by 15,023.0% during the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after purchasing an additional 285,137 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Revvity during the 1st quarter worth about $28,060,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Analysts Set New Price Targets

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

Revvity Price Performance

RVTY traded up $0.80 during midday trading on Friday, hitting $86.50. The company had a trading volume of 1,193,632 shares, compared to its average volume of 1,136,387. The company has a market capitalization of $10.04 billion, a PE ratio of 36.65, a P/E/G ratio of 2.33 and a beta of 0.94. 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 Inc. has a twelve month low of $81.36 and a twelve month high of $129.50. The firm's 50-day simple moving average is $93.06 and its 200-day simple moving average is $97.11.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Equities research analysts predict that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend 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.