Paradigm Capital Management Inc. NY Cuts Stock Position in Revvity, Inc. (NYSE:RVTY)

Paradigm Capital Management Inc. NY cut its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 71.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,450 shares of the company's stock after selling 34,350 shares during the quarter. Paradigm Capital Management Inc. NY's holdings in Revvity were worth $1,501,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Assetmark Inc. raised its stake in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares during the period. Optiver Holding B.V. bought a new stake in shares of Revvity during the fourth quarter valued at approximately $33,000. Quarry LP lifted its holdings in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after buying an additional 95 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Revvity during the fourth quarter worth $38,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after acquiring an additional 138 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Barclays decreased their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Raymond James reaffirmed an "outperform" rating and issued a $120.00 price target (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revvity has an average rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Trading Up 1.1%

Shares of NYSE RVTY opened at $94.31 on Tuesday. Revvity, Inc. has a fifty-two week low of $88.53 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 3.82 and a beta of 1.02. The business's 50 day moving average price is $98.41 and its 200-day moving average price is $110.06.

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

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.30%. Revvity's dividend payout ratio (DPR) is 11.91%.

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.

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