Xponance Inc. Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Xponance Inc. acquired a new position in Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,939 shares of the company’s stock, valued at approximately $1,742,000.

Several other hedge funds have also recently bought and sold shares of RVTY. KBC Group NV bought a new position in Revvity in the 3rd quarter valued at about $25,301,000. 2Xideas AG bought a new position in Revvity in the 3rd quarter valued at about $20,968,000. Citigroup Inc. bought a new position in Revvity in the 3rd quarter valued at about $5,548,000. Wesbanco Bank Inc. bought a new position in Revvity in the 3rd quarter valued at about $522,000. Finally, Headinvest LLC bought a new position in Revvity in the 3rd quarter valued at about $57,000. 86.65% of the stock is owned by institutional investors.

Revvity Stock Up 2.7 %

NYSE:RVTY opened at $103.49 on Wednesday. The firm’s 50 day simple moving average is $104.74 and its 200 day simple moving average is $101.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. Revvity, Inc. has a one year low of $79.50 and a one year high of $135.67. The company has a market cap of $12.78 billion, a PE ratio of 18.82, a P/E/G ratio of 2.63 and a beta of 1.09.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $695.90 million for the quarter. Revvity had a net margin of 25.20% and a return on equity of 7.41%. On average, research analysts anticipate that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio (DPR) is currently 5.09%.

Insider Transactions at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of several research reports. KeyCorp lifted their price target on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Raymond James lifted 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. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and lifted their price target for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

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.