KLP Kapitalforvaltning AS Boosts Holdings in Revvity Inc. (NYSE:RVTY)

KLP Kapitalforvaltning AS raised its position in Revvity Inc. (NYSE:RVTY) by 3.5% in the 1st quarter, Holdings Channel reports. The firm owned 44,300 shares of the company’s stock after buying an additional 1,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Revvity were worth $4,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in Revvity during the fourth quarter valued at $447,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Revvity by 3.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company’s stock valued at $544,000 after acquiring an additional 187 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Revvity during the 1st quarter valued at about $210,000. Amalgamated Bank grew its holdings in shares of Revvity by 1.0% during the first quarter. Amalgamated Bank now owns 23,777 shares of the company’s stock worth $2,516,000 after purchasing an additional 227 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Revvity by 11.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company’s stock worth $1,417,000 after purchasing an additional 1,343 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RVTY shares. JPMorgan Chase & Co. dropped their target price on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group dropped their price objective on shares of Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Evercore ISI lowered their price target on Revvity from $116.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $120.00 price objective (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.07.

Revvity Stock Performance

Shares of RVTY stock opened at $103.73 on Friday. The company has a market capitalization of $12.23 billion, a P/E ratio of 44.14, a PEG ratio of 2.57 and a beta of 0.98. Revvity Inc. has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58. The stock has a 50 day moving average price of $95.53 and a two-hundred day moving average price of $103.44.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The company had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Analysts expect that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio is currently 11.91%.

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.