CIBC Private Wealth Group LLC Trims Stock Position in Revvity, Inc. (NYSE:RVTY)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,614 shares of the company’s stock after selling 9,265 shares during the period. CIBC Private Wealth Group LLC owned about 0.24% of Revvity worth $34,183,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC increased its position in Revvity by 7.4% during the third quarter. Cerity Partners LLC now owns 17,130 shares of the company’s stock worth $2,188,000 after buying an additional 1,174 shares in the last quarter. FMR LLC boosted its stake in shares of Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after acquiring an additional 45,040 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Revvity by 23.7% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Revvity by 7.7% during the 3rd 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 raised its stake in Revvity by 14.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,383 shares of the company’s stock valued at $688,000 after purchasing an additional 700 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. KeyCorp lifted their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded 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. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Four investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The stock was 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 owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Revvity Stock Down 1.6 %

Shares of NYSE:RVTY opened at $105.65 on Monday. The stock has a 50-day simple moving average of $115.16 and a 200-day simple moving average of $117.14. The stock has a market capitalization of $12.69 billion, a P/E ratio of 47.81, a PEG ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. 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 announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share 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 quarter in the previous year, the business earned $1.25 EPS. Equities analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s dividend 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.