Revvity, Inc. (NYSE:RVTY) Shares Acquired by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lifted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,795 shares of the company’s stock after purchasing an additional 400 shares during the period. Gulf International Bank UK Ltd’s holdings in Revvity were worth $1,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RVTY. Parkside Financial Bank & Trust acquired a new stake in shares of Revvity during the fourth quarter worth $25,000. Gladius Capital Management LP raised its position in shares of Revvity by 84.1% during the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after purchasing an additional 106 shares during the period. CENTRAL TRUST Co acquired a new position in Revvity during the fourth quarter valued at $27,000. Benjamin F. Edwards & Company Inc. acquired a new position in Revvity during the fourth quarter valued at $27,000. Finally, ORG Partners LLC acquired a new position in Revvity during the fourth quarter valued at $32,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares in the company, valued at approximately $4,075,974. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RVTY. Jefferies Financial Group began coverage on Revvity in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 price target on the stock. TD Cowen upped their price target on Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their price target on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.92.

Revvity Stock Performance

RVTY opened at $107.98 on Friday. The company has a market cap of $13.32 billion, a PE ratio of 89.24, a price-to-earnings-growth ratio of 2.80 and a beta of 1.08. The stock has a 50-day moving average of $106.70 and a 200-day moving average of $105.79. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $131.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.23.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million during 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 firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, equities research analysts forecast that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.26%. Revvity’s payout ratio is 23.14%.

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.