Brown Brothers Harriman & Co. Acquires 416 Shares of Revvity, Inc. (NYSE:RVTY)

Brown Brothers Harriman & Co. boosted its holdings in Revvity, Inc. (NYSE:RVTY) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,116 shares of the company’s stock after acquiring an additional 416 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Revvity were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Rothschild Investment LLC purchased a new position in shares of Revvity in the 2nd quarter worth about $25,000. Logan Capital Management Inc. purchased a new stake in Revvity in the fourth quarter worth approximately $37,000. Family Firm Inc. purchased a new stake in Revvity in the second quarter worth approximately $43,000. Parallel Advisors LLC purchased a new position in shares of Revvity during the fourth quarter worth approximately $47,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Revvity during the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity at Revvity

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

Revvity Price Performance

RVTY stock opened at $124.59 on Thursday. The company has a market cap of $15.37 billion, a P/E ratio of 102.97, a PEG ratio of 2.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The firm has a 50-day moving average of $118.46 and a 200 day moving average of $110.36. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $128.15.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. On average, sell-side analysts forecast that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RVTY shares. Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Bank of America raised their price target on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.00.

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.