Paradigm Capital Management Inc. NY Raises Holdings in Revvity Inc. $RVTY

Key Points

• Paradigm Capital Management Inc. significantly increased its stake in Revvity Inc. by purchasing an additional 25,000 shares, raising its total holdings to 38,450 shares worth approximately $4.07 million.
• Revvity recently declared a quarterly dividend of $0.07, with a dividend yield of 0.3%, which will be paid to shareholders on November 7th.
• The company reported Q2 earnings of $1.18 per share, surpassing analyst estimates, and projected FY 2025 earnings guidance between 4.850-4.950 EPS.

Paradigm Capital Management Inc. NY raised its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 185.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,450 shares of the company's stock after purchasing an additional 25,000 shares during the period. Paradigm Capital Management Inc. NY's holdings in Revvity were worth $4,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Revvity during the 4th quarter valued at $447,000. Wealth Enhancement Advisory Services LLC raised its position in Revvity by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after purchasing an additional 187 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Revvity during the 1st quarter valued at $210,000. Amalgamated Bank raised its position in Revvity by 1.0% during the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company's stock valued at $2,516,000 after purchasing an additional 227 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Revvity by 11.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock worth $1,417,000 after acquiring an additional 1,343 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Revvity Stock Performance

Revvity stock traded down $4.62 during trading hours on Wednesday, hitting $83.25. 2,474,997 shares of the stock traded hands, compared to its average volume of 1,045,733. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The firm's 50 day moving average price is $93.55 and its 200-day moving average price is $97.59. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.42 and a beta of 0.94. Revvity Inc. has a 1 year low of $82.04 and a 1 year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $720.28 million for 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 company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a $0.07 dividend. 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 is presently 11.86%.

Analysts Set New Price Targets

Several research firms have recently commented on RVTY. Raymond James Financial reissued an "outperform" rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Evercore ISI reduced their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Stifel Nicolaus reduced their target price on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Finally, Bank of America reduced their target price on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $120.07.

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.