Scientech Research LLC Grows Stake in Revvity, Inc. (NYSE:RVTY)

Scientech Research LLC increased its stake in Revvity, Inc. (NYSE:RVTY) by 139.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,344 shares of the company’s stock after acquiring an additional 3,697 shares during the period. Scientech Research LLC’s holdings in Revvity were worth $665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in Revvity in the second quarter worth about $25,000. Logan Capital Management Inc. purchased a new position in Revvity in the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC grew its position in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after acquiring an additional 167 shares in the last quarter. Family Firm Inc. purchased a new position in Revvity in the second quarter worth about $43,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Revvity in the second quarter worth about $43,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RVTY shares. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Leerink Partners started coverage on shares of Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Bank of America raised their price objective on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.53.

Revvity Stock Down 0.2 %

Revvity stock opened at $126.06 on Friday. The business has a fifty day moving average of $120.44 and a two-hundred day moving average of $111.13. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The firm has a market cap of $15.55 billion, a P/E ratio of 104.18, a P/E/G ratio of 2.90 and a beta of 1.05. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. Revvity’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

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.