Fisher Asset Management LLC Makes New $3.94 Million Investment in Revvity, Inc. (NYSE:RVTY)

Fisher Asset Management LLC bought a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,033 shares of the company’s stock, valued at approximately $3,939,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust bought a new position in Revvity during the 4th quarter worth about $25,000. Gladius Capital Management LP lifted its position in shares of Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after purchasing an additional 106 shares during the period. CENTRAL TRUST Co bought a new position in shares of Revvity during the fourth quarter valued at approximately $27,000. ORG Partners LLC purchased a new position in Revvity during the fourth quarter valued at approximately $32,000. Finally, JTC Employer Solutions Trustee Ltd bought a new position in Revvity in the fourth quarter worth approximately $33,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Price Performance

Shares of NYSE RVTY opened at $103.17 on Wednesday. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $131.96. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.74 billion, a P/E ratio of 85.27, a P/E/G ratio of 2.62 and a beta of 1.09. The business’s 50 day moving average price is $104.48 and its 200 day moving average price is $101.27.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, sell-side analysts expect that Revvity, Inc. will post 4.66 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s payout ratio is 23.14%.

Analyst Ratings Changes

RVTY has been the topic of several recent research reports. UBS Group cut Revvity from a “buy” rating to a “neutral” rating and increased their target price for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Barclays boosted their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Raymond James raised their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Finally, TD Cowen raised their target price on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

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.