Prudential Financial Inc. Trims Stock Position in Revvity, Inc. (NYSE:RVTY)

Prudential Financial Inc. lowered its position in shares of Revvity, Inc. (NYSE:RVTY) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,193 shares of the company’s stock after selling 5,568 shares during the period. Prudential Financial Inc.’s holdings in Revvity were worth $8,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RVTY. Assetmark Inc. increased its stake in Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 259 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Revvity in the 4th quarter valued at about $38,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Revvity by 33.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $58,000 after buying an additional 131 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. Sanford C. Bernstein lowered 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. Raymond James reiterated 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. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, KeyCorp boosted 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. 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 company’s stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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 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 completion of 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 SEC, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction 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 owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Revvity Stock Performance

Shares of RVTY opened at $105.65 on Friday. The stock has a 50-day simple moving average of $115.16 and a 200-day simple moving average of $117.16. 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, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The stock has a market capitalization of $12.69 billion, a PE ratio of 47.81, a PEG ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $1.25 earnings per share. On average, analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced 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. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

About Revvity

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.