Drake & Associates LLC Buys 3,611 Shares of Revvity Inc. (NYSE:RVTY)

Drake & Associates LLC grew its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 31.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,997 shares of the company's stock after purchasing an additional 3,611 shares during the period. Drake & Associates LLC's holdings in Revvity were worth $1,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Revvity during the 4th quarter worth approximately $33,000. Quarry LP grew 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 purchasing an additional 95 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Revvity during the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Revvity during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Analyst Ratings Changes

RVTY has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Robert W. Baird reduced their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Revvity from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. JPMorgan Chase & Co. lowered their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group raised Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.64.

Revvity Trading Down 2.6%

Shares of RVTY stock traded down $2.63 during trading hours on Monday, hitting $98.68. 1,004,981 shares of the company's stock traded hands, compared to its average volume of 972,843. The stock's 50 day simple moving average is $94.04 and its 200 day simple moving average is $104.83. The stock has a market cap of $11.63 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.98. Revvity Inc. has a 12 month low of $87.70 and a 12 month high of $129.50. 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 (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter last year, the firm earned $0.98 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio is presently 11.91%.

Revvity 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.