Revvity Inc. $RVTY Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Revvity Inc. by 187.1% in the first quarter, holding approximately 111,088 shares worth $11.75 million.
• A number of research analysts have downgraded Revvity's stock rating, with Stifel Nicolaus and Wall Street Zen assigning a "hold" rating and lowering their price targets to $110.00.
• Revvity recently announced a quarterly dividend of $0.07 per share, indicating an annualized yield of 0.3% with a payout ratio of 11.86%.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 187.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,088 shares of the company's stock after buying an additional 72,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of Revvity worth $11,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its position in Revvity by 8.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock worth $2,382,163,000 after buying an additional 1,754,403 shares during the period. Vanguard Group Inc. lifted its position in Revvity by 0.6% during the first quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company's stock worth $1,521,705,000 after buying an additional 92,638 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Revvity by 25.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after buying an additional 1,932,314 shares during the period. Janus Henderson Group PLC lifted its position in Revvity by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after buying an additional 23,650 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Revvity by 1.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,444,645 shares of the company's stock worth $364,443,000 after buying an additional 62,307 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Down 3.3%

Shares of RVTY stock traded down $2.85 during trading hours on Friday, reaching $82.83. The company had a trading volume of 1,126,117 shares, compared to its average volume of 1,109,599. 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 twelve month low of $81.36 and a twelve month high of $129.50. The company has a market capitalization of $9.61 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. The stock's fifty day simple moving average is $91.52 and its 200 day simple moving average is $96.19.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The business had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. During the same quarter last year, the firm earned $1.22 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, sell-side analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is 11.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RVTY. Evercore ISI cut 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. Stifel Nicolaus cut their price objective on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Raymond James Financial restated an "outperform" rating and issued a $115.00 price objective (down from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Bank of America cut their price objective on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.