Redwood Investment Management LLC Purchases Shares of 12,376 Revvity Inc. $RVTY

Key Points

• Redwood Investment Management LLC has acquired 12,376 shares of Revvity Inc. valued at approximately $1.3 million, marking a significant new position in the company.
• The company reported earnings per share of $1.18 for its last quarter, surpassing analysts' expectations and resulting in a 4.1% year-over-year revenue increase.
• Revvity announced a quarterly dividend of $0.07, with an ex-dividend date of October 17th, reflecting a payout ratio of 11.86% and an annual yield of 0.3%.

Redwood Investment Management LLC bought a new stake in Revvity Inc. (NYSE:RVTY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,376 shares of the company's stock, valued at approximately $1,309,000.

Several other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock valued at $1,011,863,000 after acquiring an additional 1,932,314 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock valued at $2,382,163,000 after purchasing an additional 1,754,403 shares during the last quarter. EdgePoint Investment Group Inc. raised its position 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 period. GAMMA Investing LLC lifted its stake in Revvity by 15,023.0% during the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock worth $30,368,000 after purchasing an additional 285,137 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Revvity during the first quarter worth $28,060,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RVTY shares. Evercore ISI cut their price objective on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Stifel Nicolaus reduced their price target on shares of Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Bank of America cut their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Stock Up 1.1%

Shares of RVTY stock traded up $0.98 during trading hours on Friday, reaching $90.21. 786,177 shares of the stock were exchanged, compared to its average volume of 1,133,210. The business's fifty day moving average is $94.11 and its two-hundred day moving average is $98.11. The firm has a market capitalization of $10.47 billion, a P/E ratio of 38.23, a P/E/G ratio of 2.39 and a beta of 0.91. Revvity Inc. has a 12-month low of $85.12 and a 12-month high of $129.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.18 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 company had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. During the same quarter in the previous year, the business posted $1.22 EPS. The firm's revenue was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, research analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders 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 yield of 0.3%. Revvity's dividend payout ratio (DPR) is currently 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.