Swiss National Bank Acquires New Stake in Revvity, Inc. (NYSE:RVTY)

Swiss National Bank bought a new position in Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 388,200 shares of the company’s stock, valued at approximately $42,434,000. Swiss National Bank owned approximately 0.31% of Revvity at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. KBC Group NV purchased a new stake in shares of Revvity during the third quarter valued at $25,301,000. 2Xideas AG bought a new stake in Revvity in the 3rd quarter worth approximately $20,968,000. Citigroup Inc. purchased a new stake in Revvity during the 3rd quarter valued at $5,548,000. Wesbanco Bank Inc. bought a new stake in shares of Revvity in the third quarter worth $522,000. Finally, Headinvest LLC bought a new position in Revvity in the third quarter valued at about $57,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of Revvity stock opened at $103.17 on Wednesday. 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 stock’s fifty day moving average is $104.48 and its two-hundred day moving average is $101.27. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $131.96. The company has a market capitalization of $12.74 billion, a PE ratio of 85.27, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. As a group, analysts expect that Revvity, Inc. will post 4.66 earnings per share for the current year.

Revvity Dividend Announcement

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

Analysts Set New Price Targets

RVTY has been the subject of several research reports. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and upped their price target for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. TD Cowen lifted their price target on shares of Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. KeyCorp raised their target price on Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their price target on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Finally, Barclays upped 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

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.