Marshall Wace LLP Increases Stock Position in Revvity, Inc. (NYSE:RVTY)

Marshall Wace LLP raised its position in Revvity, Inc. (NYSE:RVTY) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,556 shares of the company’s stock after acquiring an additional 156 shares during the quarter. Marshall Wace LLP’s holdings in Revvity were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RVTY. Vanguard Group Inc. increased its holdings in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after purchasing an additional 156,679 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Revvity by 2.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company’s stock valued at $384,234,000 after buying an additional 69,034 shares during the period. Geode Capital Management LLC raised its holdings in shares of Revvity by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company’s stock valued at $322,958,000 after acquiring an additional 37,666 shares in the last quarter. Invesco Ltd. lifted its stake in Revvity by 18.8% in the fourth quarter. Invesco Ltd. now owns 1,740,933 shares of the company’s stock worth $194,306,000 after acquiring an additional 274,923 shares during the period. Finally, Norges Bank bought a new stake in Revvity in the fourth quarter valued at $127,801,000. 86.65% of the stock is owned by institutional investors.

Revvity Stock Performance

Shares of Revvity stock opened at $94.04 on Friday. Revvity, Inc. has a 1 year low of $88.53 and a 1 year high of $129.50. The firm’s 50-day moving average is $102.80 and its 200 day moving average is $112.07. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s payout ratio is currently 11.91%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RVTY shares. The Goldman Sachs Group reduced their price objective on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Barclays lowered their price objective on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Robert W. Baird reduced their target price on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Raymond James restated an “outperform” rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Finally, KeyCorp upped their price target on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.64.

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.