Martin Currie Ltd. Boosts Stock Position in Revvity, Inc. (NYSE:RVTY)

Martin Currie Ltd. raised its holdings in Revvity, Inc. (NYSE:RVTY) by 52.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,286 shares of the company’s stock after purchasing an additional 3,902 shares during the period. Martin Currie Ltd.’s holdings in Revvity were worth $1,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC raised its holdings in Revvity by 7.4% in the third quarter. Cerity Partners LLC now owns 17,130 shares of the company’s stock valued at $2,188,000 after acquiring an additional 1,174 shares in the last quarter. FMR LLC raised its stake in shares of Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after purchasing an additional 45,040 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Revvity by 23.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,805 shares of the company’s stock worth $4,830,000 after purchasing an additional 7,237 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Revvity by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 684,078 shares of the company’s stock worth $87,391,000 after purchasing an additional 48,700 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Revvity by 14.9% in the third quarter. Public Sector Pension Investment Board now owns 5,383 shares of the company’s stock valued at $688,000 after buying an additional 700 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Down 1.6 %

Revvity stock opened at $105.65 on Friday. The firm has a 50-day moving average price of $115.16 and a two-hundred day moving average price of $117.16. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 3.82 and a beta of 1.06. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the business posted $1.25 earnings per share. Sell-side analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

Insider Buying and Selling

In related news, 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. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $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. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of a number of research analyst reports. KeyCorp increased their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays raised their price objective on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Raymond James restated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research 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 report on Friday, January 10th. Four 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

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.