ProShare Advisors LLC Purchases 14,645 Shares of Revvity, Inc. (NYSE:RVTY)

ProShare Advisors LLC grew its position in Revvity, Inc. (NYSE:RVTY) by 88.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,280 shares of the company’s stock after acquiring an additional 14,645 shares during the period. ProShare Advisors LLC’s holdings in Revvity were worth $3,491,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Avanza Fonder AB acquired a new stake in Revvity in the 4th quarter valued at about $898,000. HB Wealth Management LLC lifted its holdings in Revvity by 4.6% during the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after purchasing an additional 104 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in Revvity by 18.1% during the 4th quarter. Guinness Asset Management LTD now owns 4,564 shares of the company’s stock valued at $509,000 after purchasing an additional 701 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in shares of Revvity by 8.8% in the fourth quarter. Atomi Financial Group Inc. now owns 1,861 shares of the company’s stock valued at $208,000 after purchasing an additional 151 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVTY has been the subject of a number of research reports. KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Robert W. Baird lowered their target price on Revvity from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Raymond James restated an “outperform” rating and issued a $120.00 price target (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their price target on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays decreased their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.64.

Revvity Trading Up 1.1%

RVTY opened at $94.31 on Tuesday. The company has a market cap of $11.12 billion, a P/E ratio of 42.67, a PEG ratio of 3.82 and a beta of 1.02. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $98.41 and its 200-day moving average is $110.06. Revvity, Inc. has a 1-year low of $88.53 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. During the same quarter in the previous year, the company posted $0.98 EPS. Revvity’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, July 18th. Revvity’s payout ratio is 11.91%.

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.