Dimensional Fund Advisors LP Increases Stake in Revvity, Inc. (NYSE:RVTY)

Dimensional Fund Advisors LP increased its position in shares of Revvity, Inc. (NYSE:RVTY) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,149,122 shares of the company’s stock after purchasing an additional 57,656 shares during the period. Dimensional Fund Advisors LP owned approximately 0.93% of Revvity worth $120,506,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of Revvity during the second quarter valued at approximately $25,000. Logan Capital Management Inc. purchased a new position in Revvity during the 4th quarter valued at $37,000. Family Firm Inc. bought a new position in Revvity in the 2nd quarter valued at $43,000. Fairfield Financial Advisors LTD purchased a new stake in Revvity in the second quarter worth $43,000. Finally, Parallel Advisors LLC bought a new stake in shares of Revvity during the fourth quarter worth $47,000. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RVTY has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partners assumed coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target for the company. Barclays raised their price objective on Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Leerink Partnrs raised Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Revvity Stock Down 2.8 %

Shares of Revvity stock opened at $122.89 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.16 billion, a P/E ratio of 101.56, a PEG ratio of 2.87 and a beta of 1.05. The firm’s 50 day moving average price is $119.06 and its 200-day moving average price is $110.62. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business 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 business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. On average, sell-side analysts predict that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

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

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

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.