Vega Investment Solutions Takes Position in Revvity, Inc. (NYSE:RVTY)

Vega Investment Solutions acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,143 shares of the company’s stock, valued at approximately $1,244,000. Revvity accounts for approximately 1.0% of Vega Investment Solutions’ portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV grew its holdings in Revvity by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company’s stock valued at $1,682,000 after purchasing an additional 91 shares during the last quarter. Quarry LP grew its holdings in Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. HB Wealth Management LLC grew its holdings in Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after purchasing an additional 104 shares during the last quarter. Signaturefd LLC grew its holdings in Revvity by 6.8% in the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after purchasing an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $58,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Up 0.7%

Shares of NYSE:RVTY opened at $90.50 on Friday. The stock’s 50-day moving average price is $97.17 and its two-hundred day moving average price is $109.57. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12-month low of $88.53 and a 12-month high of $129.50. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The firm had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. During the same period last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s payout ratio is 11.91%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group raised Revvity from a “neutral” rating to a “buy” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Thursday, May 1st. Robert W. Baird reduced their price objective on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. 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 research note on Tuesday, April 29th. Finally, Barclays decreased their price objective on Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong 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 $125.64.

Revvity 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.