Farther Finance Advisors LLC Increases Stock Position in Revvity Inc. (NYSE:RVTY)

Farther Finance Advisors LLC increased its holdings in Revvity Inc. (NYSE:RVTY) by 21.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 796 shares of the company’s stock after buying an additional 139 shares during the quarter. Farther Finance Advisors LLC’s holdings in Revvity were worth $83,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its position in shares of Revvity by 16.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after buying an additional 2,969,326 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings 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 purchasing an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 stake in Revvity in the fourth quarter worth about $127,801,000. Finally, GAMMA Investing LLC raised its holdings in Revvity by 15,023.0% in the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock worth $30,368,000 after purchasing an additional 285,137 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE RVTY opened at $94.96 on Monday. The company has a current ratio of 3.58, a quick ratio of 2.99 and a debt-to-equity ratio of 0.41. Revvity Inc. has a twelve month low of $87.70 and a twelve month high of $129.50. The stock has a 50 day moving average of $93.05 and a two-hundred day moving average of $106.00. The stock has a market cap of $11.19 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.32 and a beta of 0.97.

Revvity (NYSE:RVTY) last released its 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 business had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio is presently 11.91%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Barclays decreased their target price on Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, The Goldman Sachs Group decreased their price objective on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Five investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.