Royal Bank of Canada Sells 32,369 Shares of Revvity Inc. $RVTY

Royal Bank of Canada reduced its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,007 shares of the company's stock after selling 32,369 shares during the period. Royal Bank of Canada owned 0.23% of Revvity worth $28,779,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RVTY. Price T Rowe Associates Inc. MD grew its holdings in Revvity by 25.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company's stock worth $1,011,863,000 after acquiring an additional 1,932,314 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company's stock valued at $2,382,163,000 after buying an additional 1,754,403 shares during the period. GAMMA Investing LLC grew its stake in shares of Revvity by 15,023.0% in the 1st quarter. GAMMA Investing LLC now owns 287,035 shares of the company's stock valued at $30,368,000 after buying an additional 285,137 shares during the period. Nuveen LLC acquired a new stake in shares of Revvity in the 1st quarter valued at about $28,060,000. Finally, Jennison Associates LLC acquired a new stake in shares of Revvity in the 1st quarter valued at about $27,282,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Down 3.3%

NYSE RVTY traded down $2.85 during trading hours on Friday, hitting $82.83. The company's stock had a trading volume of 1,126,117 shares, compared to its average volume of 1,109,599. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $129.50. The company has a market capitalization of $9.61 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The company's 50-day simple moving average is $91.52 and its two-hundred day simple moving average is $96.19.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share 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 business had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. During the same quarter last year, the firm earned $1.22 EPS. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Research analysts anticipate that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity's dividend payout ratio (DPR) is currently 11.86%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America reduced their target price on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Evercore ISI reduced their target price on Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Raymond James Financial restated an "outperform" rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus reduced their target price on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

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.