Revvity Inc. (NYSE:RVTY) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in shares of Revvity Inc. (NYSE:RVTY) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,100 shares of the company’s stock after selling 712 shares during the period. M&T Bank Corp’s holdings in Revvity were worth $751,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RVTY. Assetmark Inc. lifted 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 buying an additional 259 shares during the last quarter. Optiver Holding B.V. bought a new position in Revvity during the 4th quarter worth approximately $33,000. Quarry LP lifted its holdings in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after buying an additional 95 shares during the last quarter. Millstone Evans Group LLC bought a new position in Revvity during the 4th quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. bought a new position in Revvity during the 4th quarter worth approximately $41,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RVTY shares. Wells Fargo & Company reduced their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Evercore ISI reduced their target price on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. UBS Group raised Revvity from a “neutral” rating to a “buy” rating and cut their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Bank of America cut their price target on Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Wall Street Zen raised Revvity from a “hold” rating to a “buy” rating in a report on Saturday, June 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.07.

Revvity Stock Down 2.9%

RVTY opened at $98.51 on Tuesday. Revvity Inc. has a 12 month low of $87.70 and a 12 month high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99. The stock has a market cap of $11.61 billion, a P/E ratio of 41.92, a P/E/G ratio of 2.56 and a beta of 0.98. The stock’s 50 day moving average price is $94.83 and its 200 day moving average price is $104.33.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The firm had revenue of $664.76 million for the quarter, compared to analysts’ expectations of $662.30 million. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s dividend payout ratio (DPR) is presently 11.91%.

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.