Covestor Ltd Has $35,000 Position in Revvity, Inc. (NYSE:RVTY)

Covestor Ltd cut its position in Revvity, Inc. (NYSE:RVTY) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 314 shares of the company’s stock after selling 119 shares during the period. Covestor Ltd’s holdings in Revvity were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVTY. Victory Capital Management Inc. increased its position in shares of Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock valued at $7,841,000 after buying an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after purchasing an additional 65,376 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock valued at $881,000 after purchasing an additional 3,672 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revvity by 41.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company’s stock valued at $1,352,000 after purchasing an additional 3,542 shares during the period. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several research analyst reports. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays cut their price objective 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.75.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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 of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Revvity Stock Down 2.1 %

Shares of RVTY stock opened at $95.54 on Wednesday. Revvity, Inc. has a 52-week low of $89.61 and a 52-week high of $129.50. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 3.82 and a beta of 1.07. The firm’s 50-day moving average is $108.15 and its 200-day moving average is $114.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

Revvity (NYSE:RVTY) last released 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 last year, the business earned $1.25 EPS. Sell-side analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.29%. Revvity’s dividend payout ratio (DPR) is 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.