Millennium Management LLC Lowers Holdings in Revvity, Inc. (NYSE:RVTY)

Millennium Management LLC reduced its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 78.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,353 shares of the company's stock after selling 122,703 shares during the period. Millennium Management LLC's holdings in Revvity were worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RVTY. T. Rowe Price Investment Management Inc. increased its holdings 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Revvity by 1.1% during 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 stake 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 purchasing an additional 1,151,821 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after purchasing an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its position in 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 purchasing an additional 1,372,456 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Trading Up 0.8%

Revvity stock traded up $0.69 during mid-day trading on Tuesday, hitting $90.01. The company's stock had a trading volume of 106,760 shares, compared to its average volume of 949,108. Revvity, Inc. has a 1 year low of $87.92 and a 1 year high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.61 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The stock's fifty day moving average is $94.66 and its two-hundred day moving average is $107.96.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio (DPR) is 11.91%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RVTY. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Barclays cut their price target on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $145.00 to $115.00 in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revvity has an average rating of "Moderate Buy" and a consensus price target of $125.64.

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.