Revvity, Inc. (NYSE:RVTY) Stock Position Raised by Dogwood Wealth Management LLC

Dogwood Wealth Management LLC boosted its stake in Revvity, Inc. (NYSE:RVTY) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,987 shares of the company’s stock after buying an additional 717 shares during the quarter. Dogwood Wealth Management LLC’s holdings in Revvity were worth $557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in 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 worth $2,317,170,000 after buying an additional 2,969,326 shares in the last quarter. Vanguard Group Inc. lifted its position in Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after buying an additional 156,679 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $851,764,000 after buying an additional 1,151,821 shares in the last quarter. Janus Henderson Group PLC lifted its position in Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock worth $709,725,000 after buying an additional 23,650 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in Revvity by 51.1% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $89.47 on Tuesday. Revvity, Inc. has a 1 year low of $88.01 and a 1 year high of $129.50. The firm’s fifty day simple moving average is $96.30 and its 200 day simple moving average is $108.88. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.55 billion, a PE ratio of 40.48, a PEG ratio of 3.82 and a beta of 1.02.

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

Revvity Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays cut their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp increased their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Five 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. Based on data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and a consensus price target of $125.64.

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.