Revvity Inc. $RVTY Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its holdings in Revvity Inc. by 19.4% in Q1, now owning 44,065 shares valued at $4.66 million after selling 10,600 shares.
• Wall Street analysts have lowered their price targets on Revvity, with the average target at $120.07 and a consensus rating of Moderate Buy.
• Revvity declared a quarterly dividend of $0.07 per share, set to be paid on November 7th, reflecting an annualized yield of 0.3%.

Korea Investment CORP cut its position in Revvity Inc. (NYSE:RVTY - Free Report) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,065 shares of the company's stock after selling 10,600 shares during the period. Korea Investment CORP's holdings in Revvity were worth $4,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Revvity by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock valued at $1,521,705,000 after purchasing an additional 92,638 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock valued at $709,725,000 after buying an additional 23,650 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in shares of Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after buying an additional 1,372,456 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Revvity by 1.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,444,645 shares of the company's stock valued at $364,443,000 after buying an additional 62,307 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Revvity by 0.8% in the 1st quarter. Invesco Ltd. now owns 1,754,859 shares of the company's stock valued at $185,664,000 after buying an additional 13,926 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RVTY. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Stifel Nicolaus dropped their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Stock Performance

Shares of RVTY stock traded down $0.45 during mid-day trading on Thursday, hitting $88.14. The stock had a trading volume of 171,281 shares, compared to its average volume of 1,177,515. Revvity Inc. has a fifty-two week low of $85.12 and a fifty-two week high of $129.50. The firm has a market cap of $10.23 billion, a PE ratio of 37.31, a PEG ratio of 2.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The company's 50-day simple moving average is $94.31 and its 200-day simple moving average is $98.44.

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

Revvity Announces Dividend

The company 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 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.