Man Group plc Buys Shares of 139,095 Revvity, Inc. (NYSE:RVTY)

Man Group plc bought a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 139,095 shares of the company's stock, valued at approximately $15,524,000. Man Group plc owned about 0.11% of Revvity as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in RVTY. T. Rowe Price Investment Management Inc. lifted its stake in Revvity by 16.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock valued at $2,317,170,000 after buying an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after acquiring an additional 156,679 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock valued at $851,764,000 after acquiring an additional 1,151,821 shares during the period. Janus Henderson Group PLC raised its position in 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 purchasing an additional 23,650 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in 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 during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of Revvity stock traded down $1.70 during trading on Friday, reaching $88.78. The company's stock had a trading volume of 232,651 shares, compared to its average volume of 947,722. The business has a 50 day moving average price of $97.17 and a 200-day moving average price of $109.57. Revvity, Inc. has a 12-month low of $87.93 and a 12-month high of $129.50. The company has a market capitalization of $10.46 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter last year, the company earned $0.98 earnings per share. Revvity's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio is currently 11.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RVTY shares. Barclays dropped their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group dropped their price target on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Raymond James reaffirmed an "outperform" rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Finally, Robert W. Baird dropped their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.64.

About Revvity

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.