Bank of Nova Scotia Sells 3,594 Shares of Revvity Inc. (NYSE:RVTY)

Key Points

• Bank of Nova Scotia has reduced its stake in Revvity Inc. by 22.1%, now holding 12,701 shares valued at approximately $1.34 million.
• Revvity Inc. announced a quarterly dividend of $0.07 per share, with an ex-dividend date set for October 17th.
• The company's recent earnings report showed an EPS of $1.18, exceeding analyst expectations, along with a revenue of $720.28 million for the quarter.

Bank of Nova Scotia cut its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,701 shares of the company's stock after selling 3,594 shares during the period. Bank of Nova Scotia's holdings in Revvity were worth $1,344,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nomura Holdings Inc. acquired a new position in Revvity during the fourth quarter valued at approximately $447,000. Wealth Enhancement Advisory Services LLC lifted its position in Revvity by 3.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after buying an additional 187 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Revvity during the first quarter valued at approximately $210,000. Amalgamated Bank lifted its position in Revvity by 1.0% during the first quarter. Amalgamated Bank now owns 23,777 shares of the company's stock valued at $2,516,000 after buying an additional 227 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Revvity by 11.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock worth $1,417,000 after purchasing an additional 1,343 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

Shares of Revvity stock traded up $2.67 during trading on Tuesday, hitting $88.47. 582,837 shares of the stock were exchanged, compared to its average volume of 1,178,428. The stock's fifty day moving average is $95.07 and its 200 day moving average is $100.84. The stock has a market cap of $10.27 billion, a PE ratio of 37.40, a P/E/G ratio of 2.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. Revvity Inc. has a 12 month low of $85.12 and a 12 month high of $129.50.

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. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. During the same quarter last year, the company earned $1.22 EPS. Revvity's quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's dividend payout ratio is 11.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RVTY shares. Evercore ISI reduced their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Stifel Nicolaus reduced their target price on shares of Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $120.07.

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.