Capital Research Global Investors Acquires Shares of 7,666,782 Revvity, Inc. (NYSE:RVTY)

Capital Research Global Investors acquired a new stake in Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,666,782 shares of the company’s stock, valued at approximately $838,080,000. Capital Research Global Investors owned approximately 6.21% of Revvity as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RVTY. Gladius Capital Management LP lifted its stake in Revvity by 84.1% during the third 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 last quarter. Parkside Financial Bank & Trust bought a new position in Revvity during the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. bought a new position in Revvity during the fourth quarter worth $27,000. CENTRAL TRUST Co bought a new position in Revvity during the fourth quarter worth $27,000. Finally, ORG Partners LLC bought a new position in Revvity during the fourth quarter worth $32,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Revvity in a research note on Monday. They issued a “hold” rating and a $115.00 target price on the stock. Robert W. Baird raised their target price on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Finally, TD Cowen raised their target price on Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.92.

Revvity Stock Performance

Shares of NYSE RVTY traded up $1.33 during midday trading on Wednesday, reaching $109.86. 497,929 shares of the company traded hands, compared to its average volume of 859,540. The stock has a 50-day moving average price of $105.58 and a 200 day moving average price of $104.09. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 91.12, a PEG ratio of 2.83 and a beta of 1.08. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $131.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92.

Revvity (NYSE:RVTY) last released its earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. Sell-side analysts anticipate that Revvity, Inc. will post 4.66 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s payout ratio is currently 23.14%.

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.