CIBC Private Wealth Group LLC Reduces Stock Position in Revvity, Inc. (NYSE:RVTY)

CIBC Private Wealth Group LLC reduced its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,614 shares of the company’s stock after selling 9,265 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Revvity were worth $34,183,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after acquiring an additional 156,679 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. State Street Corp grew its stake in 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Revvity by 2.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company’s stock valued at $384,234,000 after buying an additional 69,034 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after buying an additional 25,078 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Performance

RVTY opened at $105.65 on Monday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $115.16 and its 200-day moving average is $117.14. The stock has a market cap of $12.69 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share 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 quarter in the prior year, the company posted $1.25 EPS. On average, analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently declared 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 dividend yield of 0.27%. Revvity’s dividend payout ratio (DPR) is 12.67%.

Insider Transactions 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 stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now 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 filing with the SEC, which is available through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. Barclays increased their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. 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 research note on Friday, December 13th. Finally, KeyCorp lifted their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.25.

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.