Cambridge Investment Research Advisors Inc. Cuts Stock Holdings in Revvity Inc. (NYSE:RVTY)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Revvity Inc. (NYSE:RVTY) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,459 shares of the company’s stock after selling 193 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Revvity were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Nomura Holdings Inc. purchased a new position in Revvity in the fourth quarter valued at $447,000. Wealth Enhancement Advisory Services LLC increased its holdings in Revvity by 3.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company’s stock valued at $544,000 after buying an additional 187 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Revvity by 17.4% in the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock valued at $7,841,000 after buying an additional 10,390 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Revvity in the first quarter valued at $210,000. Finally, Farther Finance Advisors LLC increased its holdings in Revvity by 21.2% in the first quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock valued at $83,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $101.49 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. Revvity Inc. has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The firm has a 50-day simple moving average of $94.71 and a 200-day simple moving average of $104.53.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating 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 net margin of 10.35% and a return on equity of 7.73%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities research analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. Revvity’s payout ratio is currently 11.91%.

Wall Street Analyst Weigh In

RVTY has been the topic of several recent analyst reports. Bank of America dropped their target price on Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 price objective (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price objective on Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company dropped 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, UBS Group raised Revvity from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.07.

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.