T. Rowe Price Investment Management Inc. Has $2.38 Billion Holdings in Revvity Inc. $RVTY

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Revvity Inc. by 8.5%, acquiring an additional 1,754,403 shares to total 22,515,711 shares, which represents 1.6% of their investment portfolio.
• A recent analysis from multiple research firms resulted in revised price targets for Revvity, with Raymond James setting a target of $115.00 and JPMorgan Chase lowering theirs to $100.00.
• Revvity has declared a quarterly dividend of $0.07 per share, with an annualized yield of 0.3% and a payout ratio of 11.86%.

T. Rowe Price Investment Management Inc. boosted its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,515,711 shares of the company's stock after buying an additional 1,754,403 shares during the quarter. Revvity accounts for approximately 1.6% of T. Rowe Price Investment Management Inc.'s holdings, making the stock its 8th biggest position. T. Rowe Price Investment Management Inc. owned approximately 19.10% of Revvity worth $2,382,163,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its position in shares of Revvity by 0.6% during the 4th 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 increased its position in shares of Revvity by 45.7% during the 4th 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 increased its position in shares of Revvity by 4.8% during the 1st 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 increased its position in shares of Revvity by 3.6% during the 1st 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 increased its position in shares of Revvity by 39.3% during the 4th 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. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Performance

Shares of NYSE:RVTY traded up $4.3690 during mid-day trading on Friday, reaching $94.0390. 735,939 shares of the company traded hands, compared to its average volume of 1,453,965. The company's 50 day moving average price is $94.57 and its 200-day moving average price is $98.89. The firm has a market cap of $10.92 billion, a PE ratio of 39.85, a PEG ratio of 2.53 and a beta of 0.91. 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 Inc. has a 52 week low of $85.12 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (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 the consensus estimate of $711.26 million. During the same period in the previous year, the company posted $1.22 EPS. The firm's revenue was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, equities analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on RVTY. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group reduced their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Raymond James Financial reaffirmed 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. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and cut their price objective for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.07.

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.