Vega Investment Solutions Buys Shares of 11,143 Revvity, Inc. (NYSE:RVTY)

Vega Investment Solutions acquired a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,143 shares of the company's stock, valued at approximately $1,244,000. Revvity accounts for about 1.0% of Vega Investment Solutions' holdings, making the stock its 23rd biggest position.

Other large investors have also bought and sold shares of the company. HB Wealth Management LLC grew its position in Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after buying an additional 104 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after acquiring an additional 138 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Revvity by 8.8% during the 4th quarter. Atomi Financial Group Inc. now owns 1,861 shares of the company's stock worth $208,000 after acquiring an additional 151 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Revvity by 87.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after acquiring an additional 3,672 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Revvity by 9.6% during the fourth quarter. Fifth Third Bancorp now owns 5,362 shares of the company's stock worth $598,000 after purchasing an additional 469 shares during the period. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Raymond James reaffirmed an "outperform" rating and set a $120.00 price objective (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Wells Fargo & Company dropped their target price 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. KeyCorp boosted their price target on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Five investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $125.64.

Revvity Stock Down 0.3%

RVTY stock traded down $0.28 during midday trading on Wednesday, reaching $91.95. The company had a trading volume of 429,860 shares, compared to its average volume of 951,922. The company has a 50 day moving average of $96.00 and a two-hundred day moving average of $108.76. The company has a market capitalization of $10.84 billion, a P/E ratio of 41.57, a PEG ratio of 3.82 and a beta of 1.02. Revvity, Inc. has a 1 year low of $88.01 and a 1 year high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. Revvity's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. On average, equities research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity's dividend payout ratio (DPR) is presently 11.91%.

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.