Envestnet Asset Management Inc. Trims Holdings in Revvity Inc. (NYSE:RVTY)

Envestnet Asset Management Inc. decreased its stake in shares of Revvity Inc. (NYSE:RVTY) by 21.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,655 shares of the company’s stock after selling 11,745 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Revvity were worth $4,513,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Revvity by 16.7% in the 4th 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 purchasing an additional 2,969,326 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after buying an additional 1,151,821 shares during the period. Janus Henderson Group PLC lifted its position in Revvity by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after buying an additional 23,650 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in Revvity by 51.1% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after buying an additional 1,372,456 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 target price (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Bank of America lowered their target price on shares of Revvity from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen raised shares of Revvity from a “hold” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and an average price target of $123.07.

Revvity Trading Up 1.7%

RVTY opened at $103.73 on Friday. Revvity Inc. has a 12 month low of $87.70 and a 12 month high of $129.50. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 2.57 and a beta of 0.98. 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 business has a fifty day moving average price of $95.53 and a 200 day moving average price of $103.44.

Revvity (NYSE:RVTY) last released its earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $662.30 million. During the same period in the previous year, the firm posted $0.98 EPS. Revvity’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s payout ratio is 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.