1,145,072 Shares in Revvity, Inc. (NYSE:RVTY) Acquired by Norges Bank

Norges Bank bought a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,145,072 shares of the company's stock, valued at approximately $127,801,000. Norges Bank owned approximately 0.94% of Revvity at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after buying an additional 259 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after acquiring an additional 327 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Revvity in the 4th quarter worth approximately $38,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after purchasing an additional 138 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Revvity by 33.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on RVTY. KeyCorp lifted their price objective on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Barclays boosted their price objective 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 reissued an "outperform" rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a research note on Friday, January 10th. Finally, 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 report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Revvity currently has an average rating of "Moderate Buy" and an average target price of $136.25.

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Revvity Stock Down 5.6 %

RVTY stock traded down $5.96 during midday trading on Thursday, hitting $100.76. The stock had a trading volume of 929,332 shares, compared to its average volume of 875,953. 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 firm has a market cap of $12.11 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The business has a 50-day moving average of $114.20 and a two-hundred day moving average of $116.84. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) 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 company posted $1.25 earnings per share. As a group, equities research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 dividend yield of 0.28%. Revvity's dividend payout ratio is currently 12.67%.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, 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 this hyperlink. 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 sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

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.