Gladius Capital Management LP Increases Stake in Revvity, Inc. (NYSE:RVTY)

Gladius Capital Management LP grew its position in Revvity, Inc. (NYSE:RVTY) by 85.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 430 shares of the company’s stock after buying an additional 198 shares during the period. Gladius Capital Management LP’s holdings in Revvity were worth $47,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Revvity in the 3rd quarter worth about $1,579,487,000. Ceredex Value Advisors LLC bought a new stake in shares of Revvity in the fourth quarter worth approximately $108,353,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Revvity during the fourth quarter valued at approximately $80,818,000. Swiss National Bank bought a new position in Revvity during the fourth quarter valued at approximately $42,434,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Revvity in the fourth quarter worth approximately $33,568,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RVTY. UBS Group cut Revvity from a “buy” rating to a “neutral” rating and increased their price target for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Barclays boosted their price target on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. KeyCorp raised their price objective on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Raymond James upped their target price on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Robert W. Baird lifted their price target on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

Revvity Price Performance

RVTY traded up $1.51 on Thursday, hitting $104.34. 399,914 shares of the company’s stock traded hands, compared to its average volume of 835,973. The company’s 50 day simple moving average is $104.29 and its 200-day simple moving average is $101.30. 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 one year low of $79.50 and a one year high of $131.96. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 86.23, a P/E/G ratio of 2.62 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Revvity, Inc. will post 4.66 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s payout ratio is currently 23.14%.

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.