Fairfield Financial Advisors LTD Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Fairfield Financial Advisors LTD bought a new stake in Revvity, Inc. (NYSE:RVTY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 406 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds have also made changes to their positions in the company. Czech National Bank increased its holdings in Revvity by 0.5% in the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after purchasing an additional 99 shares in the last quarter. Garrison Asset Management LLC boosted its position in shares of Revvity by 0.5% in the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after buying an additional 103 shares during the period. TriaGen Wealth Management LLC grew its stake in shares of Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares in the last quarter. Guinness Asset Management LTD raised its holdings in shares of Revvity by 3.3% during the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after buying an additional 116 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent research reports. Leerink Partners assumed coverage on shares of Revvity in a research report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective for the company. Jefferies Financial Group raised their price target on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Citigroup upped their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Barclays lifted their target price on Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Revvity Price Performance

RVTY opened at $122.03 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $117.37 and its 200 day moving average price is $110.06. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $128.15. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 100.85, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05.

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

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 0.23%. The ex-dividend date of this dividend is Friday, October 18th. 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.