Federated Hermes Inc. Buys 27,684 Shares of Revvity, Inc. (NYSE:RVTY)

Federated Hermes Inc. lifted its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 13.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 229,524 shares of the company's stock after acquiring an additional 27,684 shares during the period. Federated Hermes Inc. owned 0.19% of Revvity worth $25,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after purchasing an additional 259 shares during the period. Continuum Advisory LLC increased its position in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock valued at $43,000 after buying an additional 327 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Revvity during the 4th quarter worth approximately $38,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after acquiring an additional 138 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after acquiring an additional 131 shares during the period. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James reiterated an "outperform" rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. KeyCorp upped their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays cut their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.75.

Remove Ads

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company's stock.

Revvity Stock Performance

Shares of NYSE RVTY traded up $2.28 during mid-day trading on Monday, reaching $97.14. 220,324 shares of the company's stock were exchanged, compared to its average volume of 883,253. The firm has a 50-day moving average price of $109.12 and a two-hundred day moving average price of $115.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 43.95, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a 52 week low of $89.61 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the previous year, the business earned $1.25 EPS. Analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's dividend payout ratio is currently 12.67%.

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.