Primecap Management Co. CA Boosts Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Primecap Management Co. CA lifted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 951,885 shares of the company’s stock after acquiring an additional 18,580 shares during the quarter. Primecap Management Co. CA owned 0.78% of Revvity worth $106,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RVTY. Victory Capital Management Inc. increased its position in shares of Revvity by 4.5% during the third quarter. Victory Capital Management Inc. now owns 59,860 shares of the company’s stock worth $7,647,000 after acquiring an additional 2,582 shares during the period. CIBC Asset Management Inc increased its holdings in Revvity by 8.2% in the third quarter. CIBC Asset Management Inc now owns 17,993 shares of the company’s stock valued at $2,299,000 after buying an additional 1,368 shares during the last quarter. Empowered Funds LLC purchased a new position in Revvity in the third quarter valued at $227,000. Natixis Advisors LLC increased its holdings in Revvity by 17.9% in the third quarter. Natixis Advisors LLC now owns 12,499 shares of the company’s stock valued at $1,597,000 after buying an additional 1,901 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Revvity in the third quarter valued at $126,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

RVTY has been the topic of several recent analyst reports. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity 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 target price on the stock in a report on Friday, December 13th. Barclays increased 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. KeyCorp increased their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Four research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of Revvity 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 directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Revvity Price Performance

Shares of RVTY opened at $112.55 on Wednesday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 50.93, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The firm has a 50-day simple moving average of $116.89 and a 200-day simple moving average of $117.79. 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 issued its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) 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 in the previous year, the firm earned $1.25 earnings per share. On average, equities research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity’s payout ratio is currently 12.67%.

Revvity 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.