SG Americas Securities LLC Reduces Stock Holdings in Revvity Inc. (NYSE:RVTY)

SG Americas Securities LLC lessened its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 76.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,735 shares of the company's stock after selling 30,833 shares during the quarter. SG Americas Securities LLC's holdings in Revvity were worth $1,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RVTY. Assetmark Inc. boosted its stake in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. acquired a new stake in Revvity during the 4th quarter worth $33,000. Quarry LP boosted its stake in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Revvity during the 4th quarter valued at about $38,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Revvity during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Performance

Shares of NYSE RVTY traded up $0.39 during mid-day trading on Thursday, hitting $94.55. 985,876 shares of the company were exchanged, compared to its average volume of 959,852. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $93.01 and a 200-day simple moving average of $106.42. Revvity Inc. has a 1-year low of $87.70 and a 1-year high of $129.50. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The firm had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same period last year, the company earned $0.98 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio (DPR) is currently 11.91%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group upgraded 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. JPMorgan Chase & Co. cut 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. Robert W. Baird cut their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $120.00 price target (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

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.