Price T Rowe Associates Inc. MD Boosts Holdings in Revvity Inc. $RVTY

Key Points

• Price T Rowe Associates Inc. increased its stake in Revvity Inc. by 25.3% during the first quarter, owning about 8.11% of the company, worth approximately $1.01 billion.
• Several institutional investors also boosted their holdings in Revvity, with 86.65% of the stock now owned by institutional investors and hedge funds.
• Revvity announced a quarterly dividend of $0.07 per share, with an annualized yield of 0.3%, reflecting a dividend payout ratio of 11.86%.

Price T Rowe Associates Inc. MD raised its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,563,911 shares of the company's stock after acquiring an additional 1,932,314 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 8.11% of Revvity worth $1,011,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RVTY. Optiver Holding B.V. purchased a new stake in shares of Revvity in the fourth quarter valued at approximately $33,000. Quarry LP raised its position in shares of Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in shares of Revvity in the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC purchased a new position in Revvity in the first quarter worth $44,000. Finally, Continuum Advisory LLC boosted its stake in shares of Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several analyst reports. Evercore ISI dropped their target price on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird dropped their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $120.07.

Revvity Price Performance

Shares of NYSE RVTY traded down $2.11 during midday trading on Wednesday, reaching $89.13. The company's stock had a trading volume of 196,164 shares, compared to its average volume of 1,174,920. Revvity Inc. has a fifty-two week low of $85.12 and a fifty-two week high of $129.50. The company has a market cap of $10.35 billion, a P/E ratio of 37.79, a P/E/G ratio of 2.47 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. The business's 50 day moving average price is $94.43 and its two-hundred day moving average price is $98.51.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio is currently 11.86%.

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.