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First Trust Advisors LP lowered its stake in Revvity, Inc. (NYSE:RVTY – Free Report) by 60.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,276 shares of the company’s stock after selling 79,908 shares during the quarter. First Trust Advisors LP’s holdings in Revvity were worth $5,946,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after purchasing an additional 156,679 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Revvity by 2.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company’s stock valued at $384,234,000 after purchasing an additional 69,034 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Revvity by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company’s stock valued at $322,958,000 after purchasing an additional 37,666 shares in the last quarter. Invesco Ltd. lifted its holdings in Revvity by 18.8% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new position in Revvity in the 4th quarter valued at $127,801,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.
Analyst Ratings Changes
RVTY has been the topic of a number of research reports. Barclays decreased their price objective on Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. The Goldman Sachs Group reduced their price target on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird reduced their price target on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company reduced their price target on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.46.
Check Out Our Latest Stock Report on Revvity
Revvity Stock Performance
NYSE RVTY opened at $93.34 on Thursday. The company has a market cap of $11.21 billion, a P/E ratio of 42.24, a P/E/G ratio of 3.82 and a beta of 1.07. 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 50-day moving average of $103.67 and a two-hundred day moving average of $112.54. Revvity, Inc. has a 1-year low of $88.53 and a 1-year 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, beating the consensus estimate of $0.96 by $0.05. The company 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%. Revvity’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.
Revvity Announces Dividend
The company 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. This represents a $0.28 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.
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.
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