Goldman Sachs Group Inc. Buys New Stake in Revvity, Inc. (NYSE:RVTY)

Goldman Sachs Group Inc. bought a new stake in Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 415,820 shares of the company’s stock, valued at approximately $45,453,000. Goldman Sachs Group Inc. owned 0.34% of Revvity at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. American International Group Inc. acquired a new position in shares of Revvity in the 4th quarter valued at $3,538,000. V Square Quantitative Management LLC acquired a new position in Revvity during the fourth quarter worth $187,000. Secured Retirement Advisors LLC acquired a new position in Revvity during the fourth quarter worth $794,000. Guardian Wealth Management Inc. acquired a new position in Revvity during the fourth quarter worth $1,315,000. Finally, First Light Asset Management LLC acquired a new position in Revvity during the fourth quarter worth $243,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company’s stock, valued at $4,075,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

Revvity Trading Up 0.2 %

Shares of RVTY opened at $107.50 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $131.96. The firm has a 50-day moving average price of $106.61 and a 200 day moving average price of $105.57. The firm has a market capitalization of $13.26 billion, a P/E ratio of 88.84, a P/E/G ratio of 2.79 and a beta of 1.08.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The firm had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Revvity’s quarterly revenue was down 3.7% on a year-over-year basis. Sell-side analysts forecast that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RVTY. Robert W. Baird upped their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Jefferies Financial Group began coverage on shares of Revvity in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $117.92.

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.