Federated Hermes Inc. Makes New $16.78 Million Investment in Revvity, Inc. (NYSE:RVTY)

Federated Hermes Inc. purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 153,494 shares of the company's stock, valued at approximately $16,778,000. Federated Hermes Inc. owned 0.12% of Revvity as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in shares of Revvity during the third quarter valued at about $1,579,487,000. Ceredex Value Advisors LLC bought a new stake in shares of Revvity during the fourth quarter valued at about $108,353,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Revvity during the fourth quarter valued at about $33,568,000. Boston Trust Walden Corp purchased a new position in shares of Revvity during the fourth quarter worth about $25,154,000. Finally, KBC Group NV purchased a new position in shares of Revvity during the third quarter worth about $25,301,000. 86.65% of the stock is currently owned by institutional investors.

Insider Activity at Revvity

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

Revvity Trading Up 2.7 %

Shares of Revvity stock traded up $2.72 during midday trading on Tuesday, reaching $103.49. 942,558 shares of the company's stock traded hands, compared to its average volume of 856,757. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The company has a market cap of $12.78 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09. The stock has a 50 day moving average of $104.74 and a 200-day moving average of $101.49. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $135.67.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. The business had revenue of $695.90 million during the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. As a group, equities analysts expect that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity's dividend payout ratio is currently 5.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RVTY shares. Barclays boosted their price objective on Revvity from $92.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, January 25th. Raymond James boosted their price objective on Revvity from $106.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. Stifel Nicolaus upped their target price on Revvity from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Friday, February 2nd. Evercore ISI raised Revvity from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. Finally, UBS Group lowered Revvity from a "buy" rating to a "neutral" rating and upped their target price for the stock from $105.00 to $125.00 in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Revvity has a consensus rating of "Moderate Buy" and a consensus target price of $118.91.

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.