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 decreased its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RVTY. Optiver Holding B.V. acquired a new stake in shares of Revvity in the fourth quarter valued at approximately $33,000. Quarry LP increased its holdings in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Revvity in the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC acquired a new stake in shares of Revvity in the first quarter valued at approximately $44,000. Finally, Continuum Advisory LLC increased 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 in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Trading Down 0.9%

RVTY stock traded down $0.79 during midday trading on Tuesday, reaching $91.35. The company's stock had a trading volume of 2,115,552 shares, compared to its average volume of 1,186,052. Revvity Inc. has a 52 week low of $85.12 and a 52 week high of $129.50. The stock has a market cap of $10.60 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. The business's 50-day simple moving average is $94.43 and its 200-day simple moving average is $98.51.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share (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 company had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. During the same quarter in the previous year, the business earned $1.22 EPS. The firm's revenue was up 4.1% on a year-over-year basis. 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 EPS for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a $0.07 dividend. 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 11.86%.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of research reports. Robert W. Baird lowered their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group lowered their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Raymond James Financial reissued 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. Finally, Bank of America lowered 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.