Blueshift Asset Management LLC Acquires Shares of 3,529 Revvity Inc. (NYSE:RVTY)

Blueshift Asset Management LLC acquired a new stake in Revvity Inc. (NYSE:RVTY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,529 shares of the company’s stock, valued at approximately $373,000.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. Barclays lowered their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Evercore ISI lowered their target price on shares of 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 restated an “outperform” rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.07.

Revvity Stock Up 0.3%

Shares of NYSE RVTY opened at $88.20 on Friday. Revvity Inc. has a 12-month low of $85.80 and a 12-month high of $129.50. The company has a market capitalization of $10.40 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.99. The firm’s 50-day moving average is $95.51 and its two-hundred day moving average is $102.41.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The business had revenue of $720.28 million for the quarter, compared to the consensus estimate of $711.26 million. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s dividend payout ratio (DPR) is 11.86%.

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.