Revvity, Inc. (NYSE:RVTY) Stock Position Increased by Royal Bank of Canada

Royal Bank of Canada lifted its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 304,376 shares of the company's stock after buying an additional 13,641 shares during the period. Royal Bank of Canada owned 0.25% of Revvity worth $33,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after purchasing an additional 2,969,326 shares during the period. Vanguard Group Inc. raised its stake in Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after purchasing an additional 1,151,821 shares during the period. Janus Henderson Group PLC raised its stake 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 purchasing an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. raised its stake in Revvity by 51.1% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after purchasing an additional 1,372,456 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Up 3.7%

NYSE RVTY traded up $3.27 during trading hours on Tuesday, reaching $92.60. 914,988 shares of the company traded hands, compared to its average volume of 951,552. The company has a 50 day moving average of $96.30 and a two-hundred day moving average of $108.88. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12 month low of $88.01 and a 12 month high of $129.50. The stock has a market capitalization of $10.91 billion, a PE ratio of 41.91, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The company had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same period last year, the firm posted $0.98 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be given a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. Revvity's payout ratio is currently 11.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and cut their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong 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 $125.64.

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.