Banco Santander S.A. Sells 725 Shares of Revvity, Inc. (NYSE:RVTY)

Banco Santander S.A. cut its stake in Revvity, Inc. (NYSE:RVTY) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 21,254 shares of the company’s stock after selling 725 shares during the period. Banco Santander S.A.’s holdings in Revvity were worth $2,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares during the period. Contravisory Investment Management Inc. lifted its stake in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after acquiring an additional 65,376 shares during the period. Bretton Capital Management LLC purchased a new stake in Revvity in the third quarter worth about $1,405,000. FMR LLC lifted its stake in Revvity by 40.8% in the third quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after acquiring an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Revvity by 87.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock valued at $881,000 after buying an additional 3,672 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. KeyCorp increased their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Finally, Barclays increased their price target on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Revvity Stock Performance

RVTY opened at $117.95 on Friday. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.17 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The firm’s 50-day moving average price is $116.90 and its 200-day moving average price is $118.23.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the firm posted $1.25 EPS. As a group, equities analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity Company 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.