Envestnet Portfolio Solutions Inc. Acquires Shares of 3,018 Revvity, Inc. (NYSE:RVTY)

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,018 shares of the company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RVTY. Vanguard Group Inc. purchased a new stake in Revvity during the 3rd quarter valued at approximately $1,579,487,000. Dimensional Fund Advisors LP purchased a new position in shares of Revvity during the 4th quarter worth approximately $112,037,000. Ceredex Value Advisors LLC purchased a new position in shares of Revvity during the 4th quarter worth approximately $108,353,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Revvity during the 4th quarter worth approximately $80,818,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Revvity during the 4th quarter worth approximately $58,414,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

RVTY stock opened at $113.27 on Friday. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $131.96. The stock’s fifty day simple moving average is $104.74 and its 200-day simple moving average is $102.69. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 93.61, a price-to-earnings-growth ratio of 2.93 and a beta of 1.09.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The business had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. Equities research analysts expect that Revvity, Inc. will post 4.66 EPS for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVTY. Raymond James increased their target price on Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus raised their price objective on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. TD Cowen raised their price objective on Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. KeyCorp raised their price objective on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird raised their price objective on Revvity from $126.00 to $127.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

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.