Assenagon Asset Management S.A. Invests $2.10 Million in Revvity Inc. $RVTY

Assenagon Asset Management S.A. bought a new stake in shares of Revvity Inc. (NYSE:RVTY) during the 1st quarter, HoldingsChannel reports. The firm bought 24,023 shares of the company’s stock, valued at approximately $2,105,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. purchased a new position in Revvity in the 1st quarter valued at about $40,411,000. Corient Private Wealth LLC boosted its stake in Revvity by 985.0% during the 4th quarter. Corient Private Wealth LLC now owns 126,568 shares of the company’s stock valued at $12,245,000 after acquiring an additional 114,903 shares during the last quarter. SHP Wealth Management bought a new position in Revvity during the 4th quarter valued at $100,000. Pacer Advisors Inc. grew its holdings in Revvity by 4.7% during the 4th quarter. Pacer Advisors Inc. now owns 11,152 shares of the company’s stock worth $1,079,000 after acquiring an additional 504 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Revvity during the 4th quarter worth $384,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of NYSE:RVTY opened at $111.11 on Wednesday. The firm’s 50 day moving average is $98.23 and its two-hundred day moving average is $97.88. The firm has a market capitalization of $12.40 billion, a P/E ratio of 53.16, a PEG ratio of 2.43 and a beta of 1.11. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Revvity Inc. has a 52 week low of $81.22 and a 52 week high of $118.30.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The business had revenue of $711.12 million during the quarter, compared to the consensus estimate of $704.07 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Analysts anticipate that Revvity Inc. will post 5.25 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, July 17th. Revvity’s payout ratio is currently 13.40%.

Analyst Upgrades and Downgrades

RVTY has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on shares of Revvity from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Stifel Nicolaus decreased their price target on Revvity from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Barclays boosted their price objective on Revvity from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Sanford C. Bernstein initiated coverage on Revvity in a research note on Friday. They set a “market perform” rating and a $115.00 price objective on the stock. Finally, TD Cowen lifted their price objective on shares of Revvity from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.33.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.