Fairfield Financial Advisors LTD Purchases New Stake in Revvity, Inc. (NYSE:RVTY)

Fairfield Financial Advisors LTD acquired a new position in Revvity, Inc. (NYSE:RVTY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 406 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RVTY. Czech National Bank increased its holdings in shares of Revvity by 0.5% in the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after purchasing an additional 99 shares in the last quarter. Garrison Asset Management LLC grew its position in Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after buying an additional 103 shares during the period. TriaGen Wealth Management LLC increased its holdings in Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares in the last quarter. Guinness Asset Management LTD lifted its position in shares of Revvity by 3.3% during the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after acquiring an additional 116 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RVTY. Wells Fargo & Company began coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Finally, Leerink Partners began coverage on shares of Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

Revvity Price Performance

RVTY stock opened at $122.03 on Monday. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 100.85, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15. The stock’s fifty day simple moving average is $117.37 and its 200-day simple moving average is $110.06.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. Equities research analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s payout ratio is 23.14%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

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.