CVA Family Office LLC Boosts Stake in Revvity Inc. $RVTY

CVA Family Office LLC lifted its holdings in shares of Revvity Inc. (NYSE:RVTY) by 79.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410 shares of the company’s stock after buying an additional 181 shares during the period. CVA Family Office LLC’s holdings in Revvity were worth $40,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Revvity by 25.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock worth $1,011,863,000 after acquiring an additional 1,932,314 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock worth $2,382,163,000 after purchasing an additional 1,754,403 shares during the period. EdgePoint Investment Group Inc. grew its position in Revvity by 32.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock worth $567,178,000 after purchasing an additional 1,302,616 shares during the period. Nuveen LLC purchased a new stake in Revvity during the 1st quarter valued at $28,060,000. Finally, Jennison Associates LLC bought a new position in shares of Revvity during the 1st quarter valued at $27,282,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RVTY. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price objective (down previously from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Bank of America cut their price target on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Stifel Nicolaus dropped their price objective on shares of Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Revvity in a research note on Saturday. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.38.

Revvity Trading Up 1.4%

Revvity stock opened at $98.91 on Monday. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $129.50. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 3.30 and a beta of 0.98. The firm has a 50 day moving average of $89.38 and a 200 day moving average of $92.37. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping 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 company had revenue of $720.28 million during the quarter, compared to the consensus estimate of $711.26 million. During the same quarter in the prior year, the firm posted $1.22 EPS. Revvity’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s dividend payout ratio is 11.86%.

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.