Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Revvity Inc. (NYSE:RVTY)

Key Points

• Zurcher Kantonalbank increased its holdings in Revvity Inc. by 26.2%, owning 57,230 shares worth approximately $6 million as of the latest SEC filing.
• Revvity recently declared a quarterly dividend of $0.07 per share, to be paid on November 7th, representing a 0.31% dividend yield.
• Despite the recent trading down by 3.8%, Revvity's quarterly earnings report exceeded expectations, with an EPS of $1.18 compared to the consensus estimate of $1.14.

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,230 shares of the company's stock after buying an additional 11,870 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Revvity were worth $6,055,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. bought a new position in shares of Revvity during the fourth quarter worth approximately $33,000. Quarry LP lifted 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 buying an additional 95 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Revvity in the fourth quarter valued at about $41,000. Continuum Advisory LLC grew its position in Revvity by 39.3% in 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. Finally, GeoWealth Management LLC bought a new stake in shares of Revvity during the fourth quarter worth $60,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY stock traded up $0.30 during midday trading on Friday, reaching $88.20. The company had a trading volume of 1,601,103 shares, compared to its average volume of 1,476,599. Revvity Inc. has a 1 year low of $85.80 and a 1 year 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 2.99. The firm has a 50-day moving average price of $95.51 and a 200-day moving average price of $102.52. The company has a market capitalization of $10.40 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.37 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. On average, research analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business 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 dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity's dividend payout ratio is currently 11.86%.

Analyst Ratings Changes

RVTY has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research report on Tuesday. Evercore ISI reduced their price objective on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. JPMorgan Chase & Co. cut their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Bank of America cut their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Revvity from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.