Ameriprise Financial Inc. Increases Stock Position in Revvity, Inc. (NYSE:RVTY)

Ameriprise Financial Inc. raised its position in shares of Revvity, Inc. (NYSE:RVTY) by 40.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,252 shares of the company’s stock after buying an additional 21,380 shares during the period. Ameriprise Financial Inc. owned about 0.06% of Revvity worth $8,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after buying an additional 259 shares during the period. Optiver Holding B.V. purchased a new stake in Revvity during the 4th quarter valued at $33,000. Quarry LP boosted its position in Revvity by 45.7% during the 4th 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 purchased a new stake in Revvity during the 4th quarter valued at $38,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 1.0%

Shares of NYSE RVTY opened at $93.39 on Wednesday. Revvity, Inc. has a 1 year low of $88.53 and a 1 year high of $129.50. The stock has a market cap of $11.01 billion, a P/E ratio of 42.26, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The firm has a 50-day moving average of $98.07 and a 200 day moving average of $109.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The company had revenue of $664.76 million during the quarter, compared to analysts’ expectations of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. Revvity’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. As a group, sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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 issued a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.30%. Revvity’s dividend payout ratio (DPR) is presently 11.91%.

Analyst Upgrades and Downgrades

RVTY has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Raymond James restated an “outperform” rating and issued a $120.00 price objective (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays decreased their price objective on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.