Tributary Capital Management LLC Trims Holdings in Revvity, Inc. (NYSE:RVTY)

Tributary Capital Management LLC lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 19.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,365 shares of the company’s stock after selling 1,959 shares during the period. Tributary Capital Management LLC’s holdings in Revvity were worth $878,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in shares of Revvity in the 1st quarter worth approximately $607,000. Artemis Investment Management LLP boosted its position in shares of Revvity by 80.5% in the 1st quarter. Artemis Investment Management LLP now owns 88,718 shares of the company’s stock worth $9,311,000 after purchasing an additional 39,573 shares in the last quarter. RDA Financial Network bought a new stake in shares of Revvity in the 1st quarter worth approximately $322,000. Gulf International Bank UK Ltd boosted its position in shares of Revvity by 3.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,795 shares of the company’s stock worth $1,133,000 after purchasing an additional 400 shares in the last quarter. Finally, Triangle Securities Wealth Management boosted its position in shares of Revvity by 20.6% in the 1st quarter. Triangle Securities Wealth Management now owns 2,874 shares of the company’s stock worth $302,000 after purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

RVTY stock traded down $0.26 during trading on Tuesday, reaching $102.74. The company’s stock had a trading volume of 14,039 shares, compared to its average volume of 864,868. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $131.96. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.68 billion, a P/E ratio of 85.12, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. The company’s fifty day moving average is $107.20 and its 200-day moving average is $106.37.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The business had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the business posted $1.01 EPS. Revvity’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s payout ratio is 23.14%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RVTY. Jefferies Financial Group began coverage on Revvity in a research report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price objective on the stock. Barclays lowered their price objective on Revvity from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Cowen upped their price objective 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 objective on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.69.

Insider Activity

In related news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the transaction, the insider now owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.