S Bank Fund Management Ltd Invests $435,000 in Revvity Inc. $RVTY

Key Points

• S Bank Fund Management Ltd has established a new position in Revvity Inc., purchasing 4,116 shares valued at approximately $435,000 in the 1st quarter.
• Equities analysts have adjusted their price targets for Revvity, with Goldman Sachs lowering its target from $140 to $125 and Wells Fargo reducing theirs from $130 to $102, reflecting cautious sentiment.
• Revvity has announced a quarterly dividend of $0.07 per share to be paid on November 7th, representing an annualized yield of 0.3% with a payout ratio of 11.86%.

S Bank Fund Management Ltd bought a new stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,116 shares of the company's stock, valued at approximately $435,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV lifted its position in Revvity by 0.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after purchasing an additional 91 shares during the last quarter. Quarry LP lifted its position in Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. HB Wealth Management LLC lifted its position in Revvity by 4.8% during the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock valued at $264,000 after purchasing an additional 114 shares during the last quarter. RDA Financial Network lifted its position in Revvity by 3.6% during the first quarter. RDA Financial Network now owns 3,331 shares of the company's stock valued at $352,000 after purchasing an additional 115 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in Revvity by 39.3% during 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 during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

NYSE:RVTY traded down $1.06 during trading hours on Monday, hitting $89.72. 976,599 shares of the company were exchanged, compared to its average volume of 1,185,919. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.44 and a beta of 0.91. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The company's 50 day moving average price is $94.94 and its 200-day moving average price is $99.85.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $711.26 million. During the same quarter in the previous year, the firm earned $1.22 EPS. Revvity's revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be paid 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 payout ratio is currently 11.86%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group cut their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research 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. Finally, Evercore ISI reduced their price target on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Revvity presently has a consensus rating of "Moderate Buy" and an average target price of $120.07.

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.