Geode Capital Management LLC Grows Stake in Revvity, Inc. (NYSE:RVTY)

Geode Capital Management LLC lifted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,901,459 shares of the company’s stock after purchasing an additional 37,666 shares during the period. Geode Capital Management LLC owned 2.38% of Revvity worth $322,958,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in 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 purchasing an additional 45,040 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Revvity by 14.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,383 shares of the company’s stock worth $688,000 after acquiring an additional 700 shares during the period. Paloma Partners Management Co purchased a new stake in Revvity in the 3rd quarter worth about $315,000. Investment Management Corp of Ontario increased its holdings in Revvity by 46.3% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,107 shares of the company’s stock worth $525,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Revvity by 62.7% during the third quarter. Quantinno Capital Management LP now owns 43,692 shares of the company’s stock valued at $5,582,000 after purchasing an additional 16,834 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of RVTY opened at $94.79 on Friday. Revvity, Inc. has a 12-month low of $93.54 and a 12-month high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The company has a market cap of $11.39 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The stock has a 50-day moving average price of $113.18 and a 200-day moving average price of $116.53.

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 quarter last year, the firm earned $1.25 earnings per share. As a group, equities analysts forecast 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. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. Revvity’s dividend payout ratio is presently 12.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RVTY shares. 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. KeyCorp lifted their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating 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 target price on the stock. in a research report on Friday, January 10th. Raymond James reiterated 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, Barclays boosted their price objective on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was 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. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the company’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 value 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 position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

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.