Royal Bank of Canada Increases Holdings in Revvity, Inc. (NYSE:RVTY)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Revvity in the 4th quarter worth approximately $33,000. Quarry LP increased its holdings in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Revvity in the 4th quarter worth about $38,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after purchasing an additional 138 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RVTY shares. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a report on Saturday. Barclays lowered their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and cut their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Robert W. Baird lowered their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and an average price target of $125.64.

Revvity Price Performance

Shares of Revvity stock traded down $0.79 during trading on Wednesday, reaching $91.45. 225,458 shares of the stock traded hands, compared to its average volume of 951,093. Revvity, Inc. has a 52-week low of $88.01 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The business has a fifty day simple moving average of $96.00 and a two-hundred day simple moving average of $108.76. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 3.82 and a beta of 1.02.

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

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio (DPR) is presently 11.91%.

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.