Revvity Inc. (NYSE:RVTY) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has reduced its stake in Revvity Inc. by 1.5%, now holding approximately 343,300 shares valued at about $36.32 million.
• Revvity recently announced a quarterly dividend of $0.07 per share, with a dividend yield of 0.3%, and a payout ratio of 11.86%.
• Wall Street analysts have adjusted their price targets for Revvity, with the consensus rating currently at "Moderate Buy" and an average price target of $120.07.

Swiss National Bank decreased its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,300 shares of the company's stock after selling 5,100 shares during the period. Swiss National Bank owned 0.29% of Revvity worth $36,321,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Nomura Holdings Inc. bought a new stake in shares of Revvity in the 4th quarter worth approximately $447,000. Wealth Enhancement Advisory Services LLC increased its position in Revvity by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after purchasing an additional 187 shares during the period. Ritholtz Wealth Management bought a new stake in Revvity during the 1st quarter valued at approximately $210,000. Amalgamated Bank boosted its position in Revvity by 1.0% during the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company's stock valued at $2,516,000 after acquiring an additional 227 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Revvity by 11.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock valued at $1,417,000 after acquiring an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RVTY. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Bank of America decreased their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company cut their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Evercore ISI cut their price objective on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, Robert W. Baird cut their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Stock Up 1.6%

Shares of RVTY stock traded up $1.41 during mid-day trading on Friday, hitting $90.86. 483,646 shares of the stock traded hands, compared to its average volume of 1,181,740. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50. The stock's fifty day moving average is $94.96 and its two-hundred day moving average is $100.44. 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 stock has a market cap of $10.55 billion, a P/E ratio of 38.55, a P/E/G ratio of 2.44 and a beta of 0.91.

Revvity (NYSE:RVTY - Get Free Report) last posted its 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 net margin of 10.19% and a return on equity of 7.66%. The company had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. During the same quarter in the prior year, the company posted $1.22 earnings per share. Revvity's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a $0.07 dividend. The ex-dividend date is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity's dividend payout ratio is presently 11.86%.

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.