Focus Partners Wealth Increases Position in Revvity, Inc. (NYSE:RVTY)

Focus Partners Wealth raised its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 139.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,217 shares of the company's stock after purchasing an additional 3,623 shares during the quarter. Focus Partners Wealth's holdings in Revvity were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVTY. Avanza Fonder AB purchased a new stake in Revvity in the fourth quarter valued at approximately $898,000. HB Wealth Management LLC grew its stake in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after acquiring an additional 104 shares in the last quarter. Guinness Asset Management LTD grew its stake in shares of Revvity by 18.1% in the fourth quarter. Guinness Asset Management LTD now owns 4,564 shares of the company's stock worth $509,000 after acquiring an additional 701 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after acquiring an additional 138 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its stake in shares of Revvity by 8.8% in the fourth quarter. Atomi Financial Group Inc. now owns 1,861 shares of the company's stock worth $208,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Performance

NYSE RVTY traded down $1.01 during trading hours on Friday, hitting $89.47. The company had a trading volume of 1,023,503 shares, compared to its average volume of 951,592. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 1-year low of $88.01 and a 1-year high of $129.50. The company has a market cap of $10.55 billion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The business has a 50 day moving average of $96.71 and a 200-day moving average of $109.11.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data 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 9.81% and a return on equity of 7.68%. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Revvity's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.31%. Revvity's dividend payout ratio is presently 11.91%.

Wall Street Analyst Weigh In

Several equities analysts have commented on RVTY shares. Barclays dropped their price target on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Raymond James restated an "outperform" rating and issued a $120.00 price target (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Robert W. Baird dropped their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group dropped their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $125.64.

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.