Prudential Financial Inc. Reduces Holdings in Revvity, Inc. (NYSE:RVTY)

Prudential Financial Inc. reduced its stake in Revvity, Inc. (NYSE:RVTY) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,193 shares of the company’s stock after selling 5,568 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Revvity worth $8,281,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RVTY. Victory Capital Management Inc. lifted its stake in shares of Revvity by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock worth $7,841,000 after buying an additional 10,390 shares during the period. JPMorgan Chase & Co. lifted its position in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares during the period. Contravisory Investment Management Inc. grew its stake in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares during the last quarter. FMR LLC increased its holdings in shares of Revvity by 40.8% in the third 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 during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Revvity by 87.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock worth $881,000 after purchasing an additional 3,672 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the firm’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 completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on RVTY shares. Sanford C. Bernstein cut 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. KeyCorp upped their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Four equities 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 company. Based on data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average target price of $136.25.

Revvity Price Performance

Revvity stock opened at $105.65 on Friday. The stock has a market capitalization of $12.69 billion, a P/E ratio of 47.81, a P/E/G ratio of 3.82 and a beta of 1.06. The company’s fifty day moving average price is $115.16 and its 200 day moving average price is $117.16. 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, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50.

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

Revvity Dividend Announcement

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 issued 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 0.27%. Revvity’s payout ratio is currently 12.67%.

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.