Revvity Inc. $RVTY Stock Holdings Increased by Guinness Asset Management LTD

Guinness Asset Management LTD boosted its holdings in shares of Revvity Inc. (NYSE:RVTY) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,235 shares of the company’s stock after purchasing an additional 247 shares during the period. Guinness Asset Management LTD’s holdings in Revvity were worth $410,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RVTY. UMB Bank n.a. lifted 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 valued at $39,000 after acquiring an additional 236 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Revvity during the first quarter valued at $44,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Revvity by 25.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after purchasing an additional 140 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Revvity in the 1st quarter worth about $75,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE:RVTY opened at $98.91 on Monday. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 3.30 and a beta of 0.98. Revvity Inc. has a 1 year low of $81.36 and a 1 year 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. The business has a fifty day simple moving average of $89.38 and a 200 day simple moving average of $92.37.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $720.28 million for 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 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 EPS. As a group, sell-side analysts predict that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s dividend payout ratio is currently 11.86%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Raymond James Financial reissued an “outperform” rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus reduced their target price on Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. Barclays lowered their price target on Revvity from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Revvity in a research note on Saturday. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.38.

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.