Oak Thistle LLC Raises Stock Holdings in Revvity Inc. (NYSE:RVTY)

Oak Thistle LLC boosted its stake in Revvity Inc. (NYSE:RVTY) by 19.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,382 shares of the company’s stock after acquiring an additional 540 shares during the period. Oak Thistle LLC’s holdings in Revvity were worth $358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RVTY. KLP Kapitalforvaltning AS raised its position in Revvity by 3.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 44,300 shares of the company’s stock valued at $4,687,000 after purchasing an additional 1,500 shares in the last quarter. Choreo LLC raised its position in Revvity by 9.9% in the 1st quarter. Choreo LLC now owns 3,829 shares of the company’s stock valued at $405,000 after purchasing an additional 346 shares in the last quarter. Allianz Asset Management GmbH raised its position in Revvity by 13.5% in the 1st quarter. Allianz Asset Management GmbH now owns 136,911 shares of the company’s stock valued at $14,485,000 after purchasing an additional 16,265 shares in the last quarter. Jennison Associates LLC acquired a new stake in Revvity in the 1st quarter valued at about $27,282,000. Finally, Tributary Capital Management LLC raised its position in Revvity by 4.2% in the 1st quarter. Tributary Capital Management LLC now owns 12,679 shares of the company’s stock valued at $1,341,000 after purchasing an additional 506 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RVTY shares. Evercore ISI reduced 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. Wall Street Zen raised Revvity from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America cut their target price on Revvity from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Robert W. Baird cut their target price on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. cut their target price on Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.07.

Revvity Trading Up 1.7%

NYSE:RVTY opened at $103.73 on Friday. The stock’s 50 day moving average price is $95.53 and its 200 day moving average price is $103.44. The company has a market capitalization of $12.23 billion, a PE ratio of 44.14, a P/E/G ratio of 2.57 and a beta of 0.98. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41. Revvity Inc. has a 52-week low of $87.70 and a 52-week high of $129.50.

Revvity (NYSE:RVTY) last released 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 7.73% and a net margin of 10.35%. The firm had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same quarter last year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.27%. Revvity’s dividend payout ratio (DPR) is currently 11.91%.

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.