Assetmark Inc. Purchases 836 Shares of Revvity Inc. $RVTY

Assetmark Inc. lifted its position in Revvity Inc. (NYSE:RVTY) by 387.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052 shares of the company’s stock after purchasing an additional 836 shares during the quarter. Assetmark Inc.’s holdings in Revvity were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVTY. UMB Bank n.a. raised its stake in shares of Revvity by 138.8% in the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after buying an additional 236 shares in the last quarter. CVA Family Office LLC increased its stake in Revvity by 79.0% in the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after acquiring an additional 181 shares during the period. New Age Alpha Advisors LLC acquired a new position in Revvity in the first quarter worth about $44,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Revvity by 25.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock worth $73,000 after buying an additional 140 shares during the period. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Revvity in the 1st quarter valued at $75,000. 86.65% of the stock is owned by institutional investors.

Revvity Stock Up 1.3%

Shares of NYSE:RVTY opened at $90.69 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 2.75. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 45.57, a P/E/G ratio of 3.15 and a beta of 1.01. The company has a 50 day moving average of $89.84 and a 200-day moving average of $92.28. Revvity Inc. has a one year low of $81.36 and a one year high of $128.29.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $698.95 million for the quarter, compared to analysts’ expectations of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, sell-side analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity declared that its Board of Directors has initiated a share buyback program on Monday, October 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The business 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, January 16th. Revvity’s dividend payout ratio is currently 14.07%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RVTY shares. Bank of America dropped their price objective on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Weiss Ratings downgraded shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Robert W. Baird boosted their target price on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Finally, Barclays increased their price target on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.75.

Revvity 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.