NorthCrest Asset Manangement LLC Trims Stake in Revvity, Inc. (NYSE:RVTY)

NorthCrest Asset Manangement LLC reduced its position in shares of Revvity, Inc. (NYSE:RVTY) by 2.6% during the 4th quarter, HoldingsChannel reports. The firm owned 7,203 shares of the company’s stock after selling 195 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Revvity were worth $804,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RVTY. Janney Montgomery Scott LLC increased its holdings in Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock worth $881,000 after purchasing an additional 3,672 shares during the period. Fifth Third Bancorp increased its holdings in Revvity by 9.6% during the 4th quarter. Fifth Third Bancorp now owns 5,362 shares of the company’s stock worth $598,000 after purchasing an additional 469 shares during the period. KBC Group NV increased its holdings in Revvity by 2.6% during the 4th quarter. KBC Group NV now owns 34,522 shares of the company’s stock worth $3,853,000 after purchasing an additional 879 shares during the period. Forsta AP Fonden increased its holdings in Revvity by 1.1% during the 4th quarter. Forsta AP Fonden now owns 27,300 shares of the company’s stock worth $3,047,000 after purchasing an additional 300 shares during the period. Finally, Caprock Group LLC bought a new stake in Revvity during the 4th quarter valued at $229,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Up 0.5%

Revvity stock opened at $91.82 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 3.82 and a beta of 1.02. Revvity, Inc. has a 1-year low of $88.01 and a 1-year high of $129.50. The business has a fifty day moving average price of $95.35 and a 200-day moving average price of $108.44.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a dividend of $0.07 per share. 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 0.30%. Revvity’s dividend payout ratio is currently 11.91%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RVTY. Wells Fargo & Company dropped their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen cut Revvity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. The Goldman Sachs Group dropped their target price on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. KeyCorp increased their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.