Allianz Asset Management GmbH Has $14.49 Million Stock Holdings in Revvity Inc. (NYSE:RVTY)

Key Points

• Allianz Asset Management GmbH increased its stake in Revvity Inc. by 13.5% in Q1, owning approximately 0.11% of the company with a value of $14.5 million.
• Analysts have recently adjusted their target prices for Revvity, with JPMorgan lowering its target from $120 to $100, while UBS upgraded its rating from "neutral" to "buy" and set a new target of $115.
• Revvity announced a quarterly dividend of $0.07 per share, with the payment date set for November 7th, indicating a 0.27% yield for investors.

Allianz Asset Management GmbH raised its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,911 shares of the company's stock after acquiring an additional 16,265 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.11% of Revvity worth $14,485,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Revvity in the 4th quarter worth approximately $2,248,000. HighTower Advisors LLC boosted its holdings in shares of Revvity by 21.1% in the 4th quarter. HighTower Advisors LLC now owns 6,415 shares of the company's stock worth $716,000 after acquiring an additional 1,117 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after acquiring an additional 156,679 shares in the last quarter. Korea Investment CORP boosted its holdings in shares of Revvity by 74.8% in the 4th quarter. Korea Investment CORP now owns 54,665 shares of the company's stock worth $6,101,000 after acquiring an additional 23,400 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in shares of Revvity by 18.8% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 13,019 shares of the company's stock worth $1,453,000 after acquiring an additional 2,059 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays reduced their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group reduced their target price on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Evercore ISI reduced 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. JPMorgan Chase & Co. reduced their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, UBS Group raised Revvity from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.07.

Revvity Trading Up 1.7%

Shares of RVTY traded up $1.76 during trading hours on Friday, reaching $103.73. The stock had a trading volume of 1,999,216 shares, compared to its average volume of 1,104,548. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41. Revvity Inc. has a 52 week low of $87.70 and a 52 week high of $129.50. The firm has a 50-day moving average of $95.53 and a 200 day moving average of $103.44. The company has a market cap of $12.23 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.61 and a beta of 0.98.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to analysts' expectations of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's dividend payout ratio (DPR) is presently 11.91%.

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.