DnB Asset Management AS Trims Holdings in Revvity, Inc. (NYSE:RVTY)

DnB Asset Management AS decreased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,322 shares of the company’s stock after selling 244 shares during the period. DnB Asset Management AS’s holdings in Revvity were worth $2,715,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RVTY. Norges Bank purchased a new stake in Revvity in the 4th quarter worth approximately $127,801,000. EdgePoint Investment Group Inc. increased its position in shares of Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Proficio Capital Partners LLC raised 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 valued at $21,850,000 after purchasing an additional 194,190 shares in the last quarter. Vanguard Group Inc. lifted its position in Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in Revvity by 91.2% during the fourth 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 last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RVTY. Sanford C. Bernstein cut shares of 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. KeyCorp raised 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. 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. Raymond James reissued an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Barclays upped their target price on Revvity from $135.00 to $140.00 and gave the stock 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Revvity Trading Up 0.2 %

Shares of RVTY opened at $105.83 on Tuesday. The stock has a market capitalization of $12.72 billion, a P/E ratio of 47.89, a PEG 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. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $114.91 and a two-hundred day simple moving average of $117.04.

Revvity (NYSE:RVTY) last posted 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 quarter last year, the company earned $1.25 earnings per share. On average, research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was 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 firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction 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. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate 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.