Allstate Corp Makes New $407,000 Investment in Revvity, Inc. (NYSE:RVTY)

Allstate Corp bought a new stake in Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,645 shares of the company’s stock, valued at approximately $407,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after buying an additional 104 shares during the period. Signaturefd LLC increased its holdings in shares of Revvity by 6.8% during the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock worth $186,000 after buying an additional 106 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Revvity by 0.8% during the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Revvity by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock valued at $286,000 after acquiring an additional 110 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RVTY shares. Barclays lifted their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reaffirmed 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. Bank of America upgraded 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. KeyCorp upped 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. Finally, Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Price Performance

Shares of NYSE RVTY opened at $106.69 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 48.28, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The stock’s 50-day moving average is $114.20 and its two-hundred day moving average is $116.84. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last released 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 business earned $1.25 EPS. Analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. 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.