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 shares of Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,376 shares of the company's stock, valued at approximately $1,309,000.

Other large investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in Revvity by 8.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after purchasing an additional 1,754,403 shares during the period. Vanguard Group Inc. increased its stake in Revvity by 0.6% in the first quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock worth $1,521,705,000 after purchasing an additional 92,638 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Revvity by 25.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after purchasing an additional 1,932,314 shares during the period. Janus Henderson Group PLC increased its stake in Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after purchasing an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. increased 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 worth $452,939,000 after purchasing an additional 1,372,456 shares during the period. Institutional investors own 86.65% of the company's stock.

Revvity Stock Up 1.1%

Shares of NYSE RVTY traded up $0.98 during mid-day trading on Monday, reaching $90.21. 786,177 shares of the company were exchanged, compared to its average volume of 1,092,464. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.42 and a beta of 0.94. Revvity Inc. has a 1 year low of $85.12 and a 1 year high of $129.50. The firm has a 50-day moving average of $94.11 and a 200 day moving average of $97.92.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, research analysts expect that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

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 11.86%.

Analyst Ratings Changes

A number of research firms have weighed in on RVTY. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 target price (down previously from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price target on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Evercore ISI dropped their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, Bank of America dropped 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. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.