Brown Brothers Harriman & Co. Increases Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Brown Brothers Harriman & Co. grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,116 shares of the company’s stock after purchasing an additional 416 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Revvity were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Private Advisor Group LLC bought a new position in Revvity in the 4th quarter worth $249,000. Envestnet Portfolio Solutions Inc. purchased a new position in Revvity during the fourth quarter valued at approximately $330,000. Principal Financial Group Inc. bought a new position in shares of Revvity in the fourth quarter worth approximately $15,213,000. Janney Montgomery Scott LLC purchased a new stake in shares of Revvity in the fourth quarter worth $500,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Revvity during the 4th quarter valued at $50,000. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

RVTY stock opened at $124.59 on Thursday. The stock has a market cap of $15.37 billion, a PE ratio of 102.97, a P/E/G ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15. The company has a 50-day moving average price of $118.46 and a 200 day moving average price of $110.36. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. Revvity’s payout ratio is 23.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RVTY. Bank of America lifted their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Leerink Partners began coverage on shares of Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Jefferies Financial Group raised their price objective on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity 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.