Moors & Cabot Inc. Decreases Position in Revvity Inc. (NYSE:RVTY)

Key Points

• Moors & Cabot Inc. reduced its stake in Revvity Inc. by 44.6% during the first quarter, now holding 3,878 shares valued at approximately $410,000.
• Several institutional investors, including Nissay Asset Management Corp and Quarry LP, have recently modified their holdings in Revvity, with hedge funds owning 86.65% of the stock.
• The latest analysis from major banks indicates a mix of ratings for Revvity, with an average target price of $120.07 and a current average rating of "Moderate Buy."

Moors & Cabot Inc. lowered its position in Revvity Inc. (NYSE:RVTY - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,878 shares of the company's stock after selling 3,116 shares during the quarter. Moors & Cabot Inc.'s holdings in Revvity were worth $410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after acquiring an additional 2,969,326 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock valued at $452,939,000 after purchasing an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Revvity by 17.8% in 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 purchasing an additional 1,151,821 shares in the last quarter. GAMMA Investing LLC lifted its position 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 valued at $30,368,000 after buying an additional 285,137 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Revvity by 18.8% in the 4th quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock valued at $194,306,000 after buying an additional 274,923 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Bank of America reduced their price target on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Robert W. Baird lowered their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Evercore ISI decreased their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating and ten 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 $120.07.

Revvity Stock Performance

Revvity stock traded up $0.24 during mid-day trading on Friday, hitting $86.70. The company had a trading volume of 324,530 shares, compared to its average volume of 1,180,858. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 36.73, a P/E/G ratio of 2.30 and a beta of 0.91. The company's fifty day moving average is $95.20 and its 200-day moving average is $101.66. Revvity Inc. has a 12-month low of $85.12 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. During the same period in the prior year, the company posted $1.22 EPS. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity's dividend payout ratio (DPR) is 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.