Strs Ohio Acquires New Stake in Revvity Inc. $RVTY

Key Points

• Strs Ohio acquired a new position in Revvity Inc., purchasing 12,288 shares valued at approximately $1.3 million in the first quarter of the year.
• Revvity's stock saw a 2.8% increase during trading, reaching $87.79, with institutional investors holding 86.65% of the company's shares.
• The company recently declared a quarterly dividend of $0.07 per share, with an upcoming payment date on November 7th and a dividend yield of 0.3%.

Strs Ohio bought a new stake in Revvity Inc. (NYSE:RVTY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,288 shares of the company's stock, valued at approximately $1,300,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion Wealth Management Inc. acquired a new position in shares of Revvity in the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC acquired a new position in shares of Revvity in the first quarter valued at approximately $44,000. Continuum Advisory LLC grew its position in Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after buying an additional 133 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company's stock worth $73,000 after buying an additional 140 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Revvity during the first quarter worth approximately $75,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Price Performance

NYSE RVTY traded down $1.08 on Friday, hitting $86.68. 3,530,393 shares of the company's stock were exchanged, compared to its average volume of 1,316,452. The stock has a 50-day moving average of $90.03 and a 200-day moving average of $95.07. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $129.50. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 36.73, a P/E/G ratio of 2.33 and a beta of 0.94.

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

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be issued 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 11.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RVTY shares. Stifel Nicolaus reduced their price target on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Bank of America reduced their price target on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Evercore ISI reduced their price target on Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Raymond James Financial reissued an "outperform" rating and set a $115.00 price target (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Ten 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Company 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.