Dogwood Wealth Management LLC Reduces Position in Revvity Inc. $RVTY

Dogwood Wealth Management LLC reduced its stake in Revvity Inc. (NYSE:RVTY) by 31.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,159 shares of the company’s stock after selling 1,893 shares during the quarter. Dogwood Wealth Management LLC’s holdings in Revvity were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. boosted its position in shares of Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after purchasing an additional 236 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Revvity during the first quarter worth $44,000. Caitong International Asset Management Co. Ltd boosted its position in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock worth $73,000 after purchasing an additional 140 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in Revvity during the first quarter worth $75,000. Finally, Parallel Advisors LLC boosted its position in Revvity by 26.3% during the first quarter. Parallel Advisors LLC now owns 777 shares of the company’s stock worth $82,000 after purchasing an additional 162 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Performance

Revvity stock opened at $87.68 on Wednesday. The firm has a market capitalization of $10.18 billion, a P/E ratio of 37.15, a PEG ratio of 2.81 and a beta of 0.94. The stock has a fifty day moving average price of $88.64 and a 200 day moving average price of $93.80. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 28th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Equities research analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity’s payout ratio is 11.86%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RVTY shares. Raymond James Financial reiterated an “outperform” rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Wall Street Zen downgraded Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Bank of America decreased their target price on Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Stifel Nicolaus decreased their target price on Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. Finally, Evercore ISI cut their price target on Revvity from $116.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.29.

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.