Short Interest in Revvity, Inc. (NYSE:RVTY) Expands By 33.8%

Revvity, Inc. (NYSE:RVTY - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,600,000 shares, an increase of 33.8% from the March 31st total of 2,690,000 shares. Based on an average trading volume of 888,500 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.9% of the shares of the company are sold short.

Revvity Stock Down 0.6 %

NYSE RVTY traded down $0.58 during mid-day trading on Friday, hitting $101.51. The company's stock had a trading volume of 827,386 shares, compared to its average volume of 939,494. The company's 50 day simple moving average is $104.66 and its 200 day simple moving average is $101.34. Revvity has a twelve month low of $79.50 and a twelve month high of $132.54. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.64 and a beta of 1.09.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The business had revenue of $695.90 million during the quarter. Analysts anticipate that Revvity will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, July 19th. Revvity's dividend payout ratio is 5.09%.

Insider Buying and Selling

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revvity

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in Revvity during the 3rd quarter worth $1,579,487,000. Capital Research Global Investors purchased a new position in Revvity during the 4th quarter worth $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Revvity during the 4th quarter worth $188,368,000. Norges Bank purchased a new position in shares of Revvity in the 4th quarter worth about $129,483,000. Finally, Northern Trust Corp purchased a new position in shares of Revvity in the 4th quarter worth about $127,401,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RVTY has been the subject of a number of research reports. Evercore ISI upgraded shares of Revvity from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Barclays raised their price objective on shares of Revvity from $92.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, January 25th. UBS Group lowered shares of Revvity from a "buy" rating to a "neutral" rating and raised their price target for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Raymond James raised their price target on shares of Revvity from $106.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. Finally, KeyCorp lifted their price objective on shares of Revvity from $110.00 to $126.00 and gave the company an "overweight" rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.91.

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.