Russell Investments Group Ltd. Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Russell Investments Group Ltd. acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 93,900 shares of the company’s stock, valued at approximately $10,291,000. Russell Investments Group Ltd. owned approximately 0.08% of Revvity as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RVTY. Gladius Capital Management LP boosted its holdings in Revvity by 84.1% in the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of Revvity in the 4th quarter valued at $25,000. CENTRAL TRUST Co purchased a new position in shares of Revvity in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new stake in Revvity during the 4th quarter worth $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in Revvity in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $100.61 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $104.56 and its two-hundred day moving average is $101.25. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $132.54. The firm has a market capitalization of $12.43 billion, a PE ratio of 83.15, a P/E/G ratio of 2.62 and a beta of 1.09.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Research analysts anticipate that Revvity, Inc. will post 4.66 earnings per share for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio is presently 23.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RVTY. Barclays lifted their target price on Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Robert W. Baird boosted their price objective on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. KeyCorp upped their price target on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Raymond James raised their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.17.

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.