Norges Bank Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Norges Bank purchased a new stake in Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,145,072 shares of the company’s stock, valued at approximately $127,801,000.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in 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 during the last quarter. JPMorgan Chase & Co. grew its stake 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 during the last quarter. Contravisory Investment Management Inc. increased its position in 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 acquiring an additional 65,376 shares during the period. FMR LLC raised its stake in Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Revvity by 87.0% in 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 during the period. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RVTY shares. KeyCorp boosted their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a 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. Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America raised 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. Finally, Raymond James restated an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Insider Activity at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’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 sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the company’s 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Revvity Stock Up 0.2 %

Shares of NYSE:RVTY opened at $105.83 on Tuesday. The company has a market capitalization of $12.72 billion, a PE ratio of 47.89, a P/E/G ratio of 3.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company’s fifty day moving average is $114.91 and its 200-day moving average is $117.04. Revvity, Inc. has a 52 week low of $97.32 and a 52 week 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, 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 firm earned $1.25 earnings per share. Equities research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued 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 is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 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.