Machina Capital S.A.S. Invests $786,000 in Revvity Inc. (NYSE:RVTY)

Key Points

• Machina Capital S.A.S. has acquired a new stake in Revvity Inc. during the first quarter, purchasing 7,429 shares valued at approximately $786,000.
• Revvity recently reported quarterly earnings of $1.01 per share, surpassing analysts' estimates, with a total revenue of $664.76 million, marking a 2.3% increase from the previous year.
• The company plans to pay a quarterly dividend of $0.07 per share on November 7th, representing an annualized dividend yield of 0.27%.

Machina Capital S.A.S. bought a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,429 shares of the company's stock, valued at approximately $786,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after buying an additional 2,969,326 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Revvity by 51.1% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after buying an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after buying an additional 1,151,821 shares during the last quarter. Norges Bank acquired a new position in shares of Revvity during the fourth quarter worth approximately $127,801,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Revvity by 15,023.0% during the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after buying an additional 285,137 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

RVTY has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company cut their target price on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Barclays cut 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. JPMorgan Chase & Co. cut their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Raymond James Financial restated an "outperform" rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Revvity presently has an average rating of "Moderate Buy" and an average price target of $123.07.

Revvity Price Performance

NYSE:RVTY traded down $9.01 during trading hours on Monday, reaching $94.66. The company had a trading volume of 1,987,648 shares, compared to its average volume of 1,152,988. The stock has a 50-day moving average of $95.53 and a two-hundred day moving average of $103.26. Revvity Inc. has a one year low of $87.70 and a one year high of $129.50. The firm has a market capitalization of $11.16 billion, a PE ratio of 40.16, a PEG ratio of 2.61 and a beta of 0.98. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The firm had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. During the same period in the prior year, the business posted $1.22 earnings per share. The business's revenue was up 4.1% compared to the same quarter last year. Analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business 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 yield of 0.30%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's dividend payout ratio (DPR) is 11.91%.

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.