Citigroup Inc. Buys 8,071 Shares of Revvity Inc. $RVTY

Key Points

• Citigroup Inc. increased its position in Revvity Inc. by 7.2%, owning approximately 0.10% of the company, valued at $12.7 million at the end of the first quarter.
• Revvity reported a quarterly EPS of $1.18, exceeding estimates, alongside a revenue of $720.28 million, indicating a year-over-year growth of 4.1%.
• The company declared a quarterly dividend of $0.07 per share, with an annualized yield of 0.3% and a payout ratio of 11.86%.

Citigroup Inc. lifted its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,238 shares of the company's stock after buying an additional 8,071 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Revvity worth $12,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of Revvity during the fourth quarter worth $2,248,000. Mariner LLC raised its holdings in shares of Revvity by 9.8% during the fourth quarter. Mariner LLC now owns 7,746 shares of the company's stock worth $865,000 after purchasing an additional 689 shares during the period. Marshall Wace LLP raised its holdings in shares of Revvity by 4.6% during the fourth quarter. Marshall Wace LLP now owns 3,556 shares of the company's stock worth $397,000 after purchasing an additional 156 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Revvity by 18.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 86,081 shares of the company's stock worth $9,606,000 after purchasing an additional 13,428 shares during the period. Finally, Capital International Sarl raised its holdings in shares of Revvity by 1.8% during the fourth quarter. Capital International Sarl now owns 12,024 shares of the company's stock worth $1,342,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RVTY. The Goldman Sachs Group lowered their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen cut Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and cut their target price for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus cut their target price on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $120.07.

Revvity Price Performance

Revvity stock traded down $0.61 during midday trading on Monday, hitting $90.17. The company's stock had a trading volume of 339,060 shares, compared to its average volume of 1,181,725. The stock's 50-day moving average price is $94.94 and its 200-day moving average price is $99.85. The company has a market capitalization of $10.47 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 2.44 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 quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly 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 return on equity of 7.66% and a net margin of 10.19%. Revvity's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. Analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's payout ratio is presently 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.