Geode Capital Management LLC Buys 37,666 Shares of Revvity, Inc. (NYSE:RVTY)

Geode Capital Management LLC grew its stake in shares of Revvity, Inc. (NYSE:RVTY) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,901,459 shares of the company’s stock after buying an additional 37,666 shares during the quarter. Geode Capital Management LLC’s holdings in Revvity were worth $322,958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RVTY. Norges Bank purchased a new stake in Revvity in the 4th quarter worth approximately $127,801,000. EdgePoint Investment Group Inc. raised its holdings in shares of 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 acquiring an additional 690,534 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Revvity by 12,298.3% in the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock worth $21,850,000 after acquiring an additional 194,190 shares during the period. Vanguard Group Inc. boosted its holdings in Revvity by 1.1% in the fourth 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 in the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in Revvity by 91.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company’s stock valued at $26,186,000 after purchasing an additional 111,937 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity 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 directly owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RVTY. Barclays raised their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Four investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Down 5.9 %

Shares of Revvity stock opened at $94.79 on Friday. The company has a 50-day simple moving average of $113.18 and a two-hundred day simple moving average of $116.53. The stock has a market capitalization of $11.39 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a 52-week low of $93.54 and a 52-week high of $129.50. 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 announced its quarterly earnings data 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 last year, the company posted $1.25 earnings per share. On average, analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is 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.