Hsbc Holdings PLC Acquires 12,334 Shares of Revvity, Inc. (NYSE:RVTY)

Hsbc Holdings PLC increased its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,655 shares of the company's stock after buying an additional 12,334 shares during the quarter. Hsbc Holdings PLC owned about 0.13% of Revvity worth $17,594,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after buying an additional 156,679 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Revvity by 2.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company's stock worth $384,234,000 after purchasing an additional 69,034 shares during the last quarter. Geode Capital Management LLC increased its holdings in Revvity by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company's stock valued at $322,958,000 after buying an additional 37,666 shares during the last quarter. Invesco Ltd. raised its stake in Revvity by 18.8% during the fourth quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock valued at $194,306,000 after buying an additional 274,923 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Revvity by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,295,760 shares of the company's stock worth $144,621,000 after buying an additional 70,867 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RVTY. KeyCorp raised their price objective on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Robert W. Baird dropped their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and reduced their price target for the company from $145.00 to $115.00 in a report on Thursday. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Four 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 data from MarketBeat, Revvity currently has an average rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Trading Up 2.1 %

NYSE RVTY traded up $1.96 on Friday, hitting $94.86. 319,553 shares of the company were exchanged, compared to its average volume of 927,249. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity, Inc. has a twelve month low of $88.53 and a twelve month high of $129.50. The firm has a market capitalization of $11.40 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company's 50 day moving average price is $103.23 and its 200-day moving average price is $112.33.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. Analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. Revvity's payout ratio is 11.91%.

Revvity 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.