Capital Research Global Investors Cuts Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Capital Research Global Investors lessened its position in Revvity, Inc. (NYSE:RVTY) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,990,283 shares of the company’s stock after selling 97,751 shares during the quarter. Capital Research Global Investors’ holdings in Revvity were worth $333,745,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Revvity in the 4th quarter worth $38,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $58,000 after purchasing an additional 131 shares during the period. Finally, GeoWealth Management LLC acquired a new stake in Revvity during the fourth quarter worth about $60,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Revvity 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 directly owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Barclays decreased their target price on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.42.

Revvity Stock Down 2.1 %

Shares of NYSE RVTY opened at $91.82 on Friday. The stock has a market cap of $11.03 billion, a P/E ratio of 41.55, a PEG ratio of 3.82 and a beta of 1.07. The business’s fifty day simple moving average is $106.77 and its 200-day simple moving average is $114.07. Revvity, Inc. has a 12-month low of $89.61 and a 12-month high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

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

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

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.