Revvity Inc. $RVTY is EdgePoint Investment Group Inc.'s 10th Largest Position

Key Points

• EdgePoint Investment Group Inc. increased its stake in Revvity Inc. by 32.1% in the first quarter, now owning approximately 5.36 million shares valued at around $567 million.
• Revvity's shares have experienced a price target adjustment, with Bank of America lowering it from $116 to $110, although the consensus rating remains a Moderate Buy with a target of $120.07.
• The company recently announced a quarterly dividend of $0.07 per share, set to be paid on November 7th, representing a yield of 0.3% with a payout ratio of approximately 11.86%.

EdgePoint Investment Group Inc. grew its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 32.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,360,847 shares of the company's stock after buying an additional 1,302,616 shares during the quarter. Revvity accounts for about 4.6% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 10th biggest position. EdgePoint Investment Group Inc. owned 4.55% of Revvity worth $567,178,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new position in shares of Revvity during the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC bought a new position in shares of Revvity during the first quarter valued at approximately $44,000. Continuum Advisory LLC boosted its holdings in shares of Revvity by 39.3% in the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock valued at $53,000 after purchasing an additional 133 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Revvity by 25.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company's stock valued at $73,000 after purchasing an additional 140 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Revvity in the first quarter valued at approximately $75,000. Institutional investors own 86.65% of the company's stock.

Revvity Stock Down 0.4%

Revvity stock traded down $0.34 during mid-day trading on Monday, reaching $86.30. 1,026,673 shares of the company were exchanged, compared to its average volume of 1,186,937. The business has a fifty day moving average of $93.06 and a 200 day moving average of $96.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. The firm has a market cap of $10.02 billion, a P/E ratio of 36.57, a PEG ratio of 2.33 and a beta of 0.94. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.Revvity's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Research analysts anticipate 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. Stockholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio is currently 11.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target (down previously from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Stifel Nicolaus lowered their price target on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Bank of America lowered their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Evercore ISI lowered their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Company 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.