Sequoia Financial Advisors LLC Grows Position in Revvity Inc. $RVTY

Key Points

• Sequoia Financial Advisors LLC increased its position in Revvity Inc. by 10.2% during the second quarter, now owning 30,778 shares valued at approximately $2.98 million.
• Revvity reported $1.18 EPS for the last quarter, surpassing analyst expectations of $1.14, and saw a year-over-year revenue increase of 4.1%.
• The company has announced a quarterly dividend of $0.07 per share and numerous brokerages have adjusted their price targets, with a consensus rating of "Moderate Buy" and an average target of $117.93.

Sequoia Financial Advisors LLC increased its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 10.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,778 shares of the company's stock after buying an additional 2,857 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Revvity were worth $2,977,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its stake in Revvity by 4.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,410 shares of the company's stock worth $1,587,000 after buying an additional 675 shares during the last quarter. Sivik Global Healthcare LLC purchased a new position in shares of Revvity in the 2nd quarter valued at approximately $4,352,000. Aberdeen Group plc grew its stake in shares of Revvity by 2.4% in the 2nd quarter. Aberdeen Group plc now owns 108,549 shares of the company's stock valued at $10,499,000 after purchasing an additional 2,508 shares during the last quarter. Triodos Investment Management BV grew its stake in shares of Revvity by 27.1% in the 2nd quarter. Triodos Investment Management BV now owns 37,500 shares of the company's stock valued at $3,627,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in shares of Revvity in the 2nd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Trading Up 1.1%

Shares of RVTY stock opened at $92.12 on Thursday. The business's fifty day moving average price is $88.31 and its 200 day moving average price is $92.61. Revvity Inc. has a 1-year low of $81.36 and a 1-year high of $129.50. The firm has a market capitalization of $10.69 billion, a PE ratio of 39.04, a P/E/G ratio of 3.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The firm had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. During the same quarter in the prior year, the company posted $1.22 earnings per share. Revvity's quarterly 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 forecast 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's payout ratio is presently 11.86%.

Analysts Set New Price Targets

Several brokerages have weighed in on RVTY. Evercore ISI lowered their target price on Revvity from $108.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings downgraded Revvity from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their target price on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Barclays lowered their target price on Revvity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, October 2nd. Finally, Guggenheim initiated coverage on Revvity in a research note on Wednesday. They issued a "neutral" rating on the stock. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.93.

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.

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