Quantinno Capital Management LP Buys 14,777 Shares of Revvity, Inc. (NYSE:RVTY)

Quantinno Capital Management LP grew its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 33.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,469 shares of the company's stock after purchasing an additional 14,777 shares during the quarter. Quantinno Capital Management LP's holdings in Revvity were worth $6,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after buying an additional 2,969,326 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after acquiring an additional 1,372,456 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the period. Norges Bank purchased a new position in shares of Revvity during the fourth quarter valued at approximately $127,801,000. Finally, Invesco Ltd. lifted its position 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 purchasing an additional 274,923 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Down 1.0%

Shares of RVTY traded down $0.91 during trading on Tuesday, reaching $93.39. The company's stock had a trading volume of 1,072,766 shares, compared to its average volume of 948,352. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 42.26, a P/E/G ratio of 3.82 and a beta of 1.02. The company has a fifty day moving average of $98.41 and a two-hundred day moving average of $110.06. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a twelve month low of $88.53 and a twelve month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its 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 firm had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The firm'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 firm posted $0.98 earnings per share. On average, sell-side analysts predict 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, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. Revvity's dividend payout ratio is currently 11.91%.

Analyst Ratings Changes

RVTY has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Raymond James reissued an "outperform" rating and set a $120.00 price target (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Robert W. Baird cut their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Company 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.