Hsbc Holdings PLC cut its position in Revvity Inc. (NYSE:RVTY – Free Report) by 26.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,648 shares of the company’s stock after selling 65,374 shares during the quarter. Hsbc Holdings PLC’s holdings in Revvity were worth $17,904,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Byrne Asset Management LLC increased its stake in Revvity by 0.9% during the 4th quarter. Byrne Asset Management LLC now owns 11,138 shares of the company’s stock worth $1,078,000 after buying an additional 100 shares during the period. New Mexico Educational Retirement Board boosted its position in Revvity by 1.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 5,416 shares of the company’s stock valued at $524,000 after buying an additional 100 shares during the last quarter. Allworth Financial LP grew its stake in shares of Revvity by 8.9% during the fourth quarter. Allworth Financial LP now owns 1,275 shares of the company’s stock valued at $123,000 after acquiring an additional 104 shares in the last quarter. Trust Point Inc. grew its stake in shares of Revvity by 3.8% during the fourth quarter. Trust Point Inc. now owns 3,215 shares of the company’s stock valued at $311,000 after acquiring an additional 117 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Revvity by 2.6% during the fourth quarter. HighTower Advisors LLC now owns 5,141 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.
Revvity Stock Down 0.7%
NYSE:RVTY opened at $112.15 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 53.66, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. Revvity Inc. has a one year low of $81.22 and a one year high of $118.30. The stock has a 50-day simple moving average of $100.42 and a 200 day simple moving average of $98.36.
Revvity Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 17th. This represents a $0.28 annualized dividend and a yield of 0.2%. Revvity’s dividend payout ratio (DPR) is 13.40%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Sanford C. Bernstein started coverage on Revvity in a research note on Friday, June 26th. They issued a “market perform” rating and a $115.00 price target on the stock. Weiss Ratings upgraded Revvity from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Stifel Nicolaus cut their target price on Revvity from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. TD Cowen increased their target price on Revvity from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $117.00 price target on shares of Revvity in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.92.
Check Out Our Latest Stock Analysis on Revvity
About Revvity
Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.
Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.
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