Kovitz Investment Group Partners LLC Increases Holdings in Revvity Inc. $RVTY

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Revvity Inc. by 41.7% during the first quarter, owning a total of 9,464 shares valued at approximately $1,001,000.
• Several large institutional investors have also increased their stakes, including T. Rowe Price and EdgePoint Investment Group, indicating strong interest in Revvity among major players.
• Revvity recently declared a quarterly dividend of $0.07 per share, with a projected annualized yield of 0.3%, and is expected to post 4.94 EPS for the current year, reflecting a positive outlook.

Kovitz Investment Group Partners LLC grew its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,464 shares of the company's stock after buying an additional 2,784 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Revvity were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC lifted its position in Revvity by 10.3% in the 1st quarter. Neuberger Berman Group LLC now owns 13,846 shares of the company's stock valued at $1,465,000 after acquiring an additional 1,291 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Revvity by 6.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,488 shares of the company's stock valued at $475,000 after purchasing an additional 286 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company's stock valued at $73,000 after purchasing an additional 140 shares in the last quarter. S Bank Fund Management Ltd purchased a new stake in shares of Revvity during the first quarter valued at $435,000. Finally, Russell Investments Group Ltd. increased its holdings in Revvity by 15.8% in the 1st quarter. Russell Investments Group Ltd. now owns 53,693 shares of the company's stock worth $5,677,000 after buying an additional 7,306 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several research analyst reports. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Evercore ISI lowered their price objective 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. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Stifel Nicolaus decreased their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Revvity currently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Stock Performance

RVTY traded up $4.3690 during midday trading on Friday, reaching $94.0390. The company had a trading volume of 735,939 shares, compared to its average volume of 1,453,965. The business has a 50-day moving average of $94.57 and a two-hundred day moving average of $99.05. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. Revvity Inc. has a 1 year low of $85.12 and a 1 year high of $129.50. The company has a market cap of $10.92 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.41 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data 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 company 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 firm's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities research analysts predict that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be given a $0.07 dividend. 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 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.