Sequoia Financial Advisors LLC Acquires 1,992 Shares of Revvity Inc. (NYSE:RVTY)

Sequoia Financial Advisors LLC boosted its holdings in Revvity Inc. (NYSE:RVTY) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,921 shares of the company’s stock after acquiring an additional 1,992 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Revvity were worth $2,954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Revvity by 16.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after acquiring an additional 2,969,326 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Revvity by 51.1% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock valued at $452,939,000 after acquiring an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after acquiring an additional 1,151,821 shares during the last quarter. Norges Bank bought a new position in shares of Revvity in the fourth quarter valued at approximately $127,801,000. Finally, GAMMA Investing LLC raised its stake in shares of Revvity by 15,023.0% in the first quarter. GAMMA Investing LLC now owns 287,035 shares of the company’s stock valued at $30,368,000 after acquiring an additional 285,137 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on RVTY shares. JPMorgan Chase & Co. decreased their price target on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Barclays decreased their price target on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wall Street Zen raised shares of Revvity from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, The Goldman Sachs Group decreased their price target on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.64.

Revvity Trading Down 1.0%

Shares of NYSE RVTY opened at $97.78 on Friday. The company’s 50 day simple moving average is $93.36 and its 200 day simple moving average is $105.37. Revvity Inc. has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The firm has a market capitalization of $11.53 billion, a P/E ratio of 41.61, a P/E/G ratio of 2.39 and a beta of 0.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The business had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. During the same period in the prior year, the business posted $0.98 earnings per share. Revvity’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.29%. Revvity’s dividend payout ratio is currently 11.91%.

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.