Cannell & Co. Buys New Position in Revvity, Inc. (NYSE:RVTY)

Cannell & Co. bought a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,865 shares of the company’s stock, valued at approximately $1,188,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVTY. Vanguard Group Inc. bought a new position in Revvity in the third quarter worth $1,579,487,000. Ceredex Value Advisors LLC bought a new position in shares of Revvity during the fourth quarter valued at $108,353,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Revvity during the fourth quarter valued at $33,568,000. Boston Trust Walden Corp bought a new position in shares of Revvity during the fourth quarter valued at $25,154,000. Finally, KBC Group NV bought a new position in shares of Revvity during the third quarter valued at $25,301,000. Institutional investors own 86.65% of the company’s stock.

Revvity Trading Up 0.1 %

Revvity stock opened at $102.60 on Thursday. The business has a 50-day simple moving average of $104.70 and a two-hundred day simple moving average of $101.32. The company has a market cap of $12.67 billion, a P/E ratio of 84.79, a P/E/G ratio of 2.67 and a beta of 1.09. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $132.54. The company has a quick ratio of 1.77, a current ratio of 2.23 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The firm had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the firm earned $1.01 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts predict that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s payout ratio is currently 23.14%.

Insider Activity

In related news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the transaction, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. KeyCorp raised their price target on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Robert W. Baird raised their price target on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday. TD Cowen lifted their price objective on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Raymond James lifted their price objective on Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

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.