Korea Investment CORP Cuts Holdings in Revvity Inc. $RVTY

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 decreased its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,065 shares of the company's stock after selling 10,600 shares during the quarter. Korea Investment CORP's holdings in Revvity were worth $4,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RVTY. Nomura Holdings Inc. acquired a new position in shares of Revvity during the 4th quarter worth about $447,000. Wealth Enhancement Advisory Services LLC increased its stake in Revvity by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock worth $544,000 after buying an additional 187 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Revvity during the 1st quarter worth approximately $210,000. Amalgamated Bank raised its holdings in shares of Revvity by 1.0% during the first quarter. Amalgamated Bank now owns 23,777 shares of the company's stock valued at $2,516,000 after acquiring an additional 227 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Revvity by 11.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock valued at $1,417,000 after acquiring an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

RVTY has been the subject of a number of research reports. 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 report on Thursday, June 26th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. The Goldman Sachs Group cut their target price on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Raymond James Financial reissued an "outperform" rating and set a $115.00 price target (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Finally, Evercore ISI dropped their price target on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.07.

Revvity Stock Down 0.9%

RVTY stock traded down $0.79 during midday trading on Tuesday, reaching $91.35. 2,115,552 shares of the company were exchanged, compared to its average volume of 1,181,115. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. 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 1-year low of $85.12 and a 1-year high of $129.50. The stock's 50-day simple moving average is $94.49 and its 200 day simple moving average is $98.56.

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

Revvity Dividend Announcement

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 issued 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 payout ratio is presently 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.