Levin Capital Strategies L.P. Invests $896,000 in Revvity, Inc. (NYSE:RVTY)

Levin Capital Strategies L.P. bought a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,200 shares of the company’s stock, valued at approximately $896,000.

Several other institutional investors and hedge funds have also made changes to their positions in RVTY. Vanguard Group Inc. acquired a new position in Revvity during the third quarter worth $1,579,487,000. Ceredex Value Advisors LLC acquired a new position in Revvity during the fourth quarter worth $108,353,000. Swiss National Bank acquired a new position in Revvity during the fourth quarter worth $42,434,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Revvity during the fourth quarter worth $33,568,000. Finally, Boston Trust Walden Corp acquired a new position in Revvity during the fourth quarter worth $25,154,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of RVTY traded down $0.86 during mid-day trading on Thursday, reaching $101.74. 312,103 shares of the company’s stock were exchanged, compared to its average volume of 843,514. The company has a quick ratio of 1.77, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $104.70 and a two-hundred day simple 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 market cap of $12.57 billion, a price-to-earnings ratio of 84.79, a PEG ratio of 2.67 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. Revvity’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. On average, sell-side analysts predict that Revvity, Inc. will post 4.65 EPS for the current fiscal 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 issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TD Cowen upped their price target on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group lowered Revvity from a “buy” rating to a “neutral” rating and increased their target price for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Robert W. Baird raised their price objective on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James increased their target price on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus increased their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $118.17.

Insider Buying and Selling at Revvity

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

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.