KLP Kapitalforvaltning AS Takes Position in Revvity, Inc. (NYSE:RVTY)

KLP Kapitalforvaltning AS purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,800 shares of the company’s stock, valued at approximately $4,777,000.

Several other large investors have also recently bought and sold shares of RVTY. Janus Henderson Group PLC boosted its position in Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after acquiring an additional 108,401 shares during the period. State Street Corp lifted its position in shares of Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after purchasing an additional 17,832 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after purchasing an additional 25,078 shares during the period. EdgePoint Investment Group Inc. grew its position in Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares in the last quarter. Finally, RGM Capital LLC increased its stake in Revvity by 3.2% in the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after buying an additional 30,000 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RVTY. Barclays lifted their target price on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research note on Friday, January 10th. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Stock Down 1.4 %

Revvity stock opened at $107.06 on Wednesday. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 48.44, a P/E/G ratio of 3.82 and a beta of 1.06. The firm has a fifty day moving average price of $115.89 and a two-hundred day moving average price of $117.42. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings data 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 return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

Insider Activity at Revvity

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

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.