Penobscot Investment Management Company Inc. Acquires Shares of 2,000 Revvity, Inc. (NYSE:RVTY)

Penobscot Investment Management Company Inc. bought a new stake in Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently made changes to their positions in RVTY. Retirement Systems of Alabama purchased a new stake in shares of Revvity during the 4th quarter valued at approximately $2,973,000. Russell Investments Group Ltd. bought a new position in shares of Revvity in the fourth quarter worth $10,291,000. Truist Financial Corp purchased a new position in shares of Revvity in the fourth quarter valued at $7,089,000. Prentiss Smith & Co. Inc. bought a new stake in shares of Revvity during the 4th quarter valued at $220,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Revvity in the 4th quarter worth about $7,832,000. 86.65% of the stock is currently owned by institutional investors.

Insider Activity at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on RVTY. KeyCorp boosted their price objective on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday. Stifel Nicolaus boosted their target price on Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and raised their price target for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Finally, TD Cowen boosted their price objective on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.17.

Revvity Price Performance

Shares of Revvity stock opened at $102.60 on Thursday. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 84.79, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. The company has a fifty day moving average of $104.70 and a 200-day moving average of $101.32. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $132.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.23.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. Equities research analysts expect that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Dividend Announcement

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