Hsbc Holdings PLC Sells 2,753 Shares of Revvity Inc. $RVTY

Key Points

• Hsbc Holdings PLC reduced its stake in Revvity Inc. by 1.7% during Q1, now holding approximately 0.13% of the company worth $16.38 million.
• Several analysts have revised their price targets for Revvity, with JPMorgan lowering theirs from $120 to $100 while maintaining a "neutral" rating.
• Revvity has announced a quarterly dividend of $0.07 per share, to be paid on November 7th, 2023, representing an annualized yield of 0.3%.

Hsbc Holdings PLC lowered its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 154,902 shares of the company's stock after selling 2,753 shares during the period. Hsbc Holdings PLC owned about 0.13% of Revvity worth $16,380,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RVTY. Raymond James Financial Inc. bought a new position in shares of Revvity during the fourth quarter valued at $2,248,000. Mariner LLC increased its position in shares of Revvity by 9.8% during the fourth quarter. Mariner LLC now owns 7,746 shares of the company's stock worth $865,000 after buying an additional 689 shares during the period. Marshall Wace LLP increased its position in shares of Revvity by 4.6% during the fourth quarter. Marshall Wace LLP now owns 3,556 shares of the company's stock worth $397,000 after buying an additional 156 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Revvity during the fourth quarter worth $60,000. Finally, MetLife Investment Management LLC increased its position in shares of Revvity by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,231 shares of the company's stock worth $3,597,000 after buying an additional 169 shares during the period. Institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent analyst reports. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on shares of Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Bank of America reduced their price target on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Revvity has an average rating of "Moderate Buy" and an average target price of $120.07.

Revvity Stock Up 0.2%

NYSE:RVTY traded up $0.15 during trading hours on Friday, reaching $89.38. The company had a trading volume of 132,186 shares, compared to its average volume of 1,174,874. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 2.38 and a beta of 0.91. The business's 50-day simple moving average is $94.21 and its two-hundred day simple moving average is $98.26. Revvity Inc. has a twelve month low of $85.12 and a twelve month high of $129.50. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, equities analysts expect that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is currently 11.86%.

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.