King Luther Capital Management Corp Sells 7,602 Shares of Revvity, Inc. (NYSE:RVTY)

King Luther Capital Management Corp cut its stake in Revvity, Inc. (NYSE:RVTY) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,249 shares of the company’s stock after selling 7,602 shares during the period. King Luther Capital Management Corp’s holdings in Revvity were worth $21,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RVTY. JPMorgan Chase & Co. raised 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 valued at $43,961,000 after purchasing an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Revvity by 1,715.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after buying an additional 65,376 shares during the period. Bretton Capital Management LLC acquired a new position in shares of Revvity in the 3rd quarter valued at $1,405,000. FMR LLC lifted its holdings in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after acquiring an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock valued at $881,000 after acquiring an additional 3,672 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Trading Down 4.4 %

RVTY opened at $112.97 on Wednesday. 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 $13.57 billion, a PE ratio of 51.12, a PEG ratio of 3.82 and a beta of 1.06. 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 firm has a 50-day moving average price of $117.07 and a two-hundred day moving average price of $118.14.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating 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 earned $1.25 earnings per share. As a group, equities analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent research reports. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. KeyCorp boosted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, Barclays boosted 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. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’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 transaction of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 15,170 shares of the firm’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 transaction of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

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.