Siemens Fonds Invest GmbH Raises Stake in Revvity, Inc. (NYSE:RVTY)

Siemens Fonds Invest GmbH grew its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 264.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,357 shares of the company's stock after purchasing an additional 9,696 shares during the period. Siemens Fonds Invest GmbH's holdings in Revvity were worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RVTY. Assetmark Inc. increased its holdings in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the period. Optiver Holding B.V. bought a new position in shares of Revvity during the 4th quarter worth $33,000. Quarry LP increased its stake in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after buying an additional 95 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Revvity in the fourth quarter valued at about $38,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after acquiring an additional 138 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Down 4.0%

Revvity stock traded down $3.72 during midday trading on Wednesday, reaching $89.86. The company's stock had a trading volume of 1,300,352 shares, compared to its average volume of 949,614. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market capitalization of $10.59 billion, a P/E ratio of 40.66, a PEG ratio of 3.82 and a beta of 1.02. The stock's 50-day simple moving average is $98.07 and its 200-day simple moving average is $109.95. Revvity, Inc. has a 52-week low of $88.53 and a 52-week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The company had revenue of $664.76 million during the quarter, compared to analysts' expectations of $662.30 million. During the same period last year, the business earned $0.98 EPS. Revvity's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, July 18th. Revvity's payout ratio is 11.91%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Raymond James reissued an "outperform" rating and set a $120.00 target price (down previously from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Wells Fargo & Company cut their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. KeyCorp boosted their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their target price on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays reduced their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

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.