Allstate Corp Takes $407,000 Position in Revvity, Inc. (NYSE:RVTY)

Allstate Corp purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,645 shares of the company's stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. State Street Corp grew its position in shares of Revvity by 0.3% during the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company's stock worth $661,767,000 after buying an additional 17,832 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Revvity by 2.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company's stock worth $384,234,000 after buying an additional 69,034 shares during the period. Geode Capital Management LLC raised its stake in shares of Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company's stock worth $364,569,000 after buying an additional 25,078 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock valued at $343,108,000 after buying an additional 690,534 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

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Analyst Upgrades and Downgrades

RVTY has been the subject of several recent research reports. Barclays upped their target price on shares of Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. 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 research note on Friday, December 13th. Finally, 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. Four research 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 company's stock. According to MarketBeat.com, Revvity has a consensus rating of "Moderate Buy" and an average price target of $136.25.

Revvity Stock Up 1.3 %

Shares of Revvity stock traded up $1.25 on Monday, hitting $96.09. The company had a trading volume of 1,680,101 shares, compared to its average volume of 887,039. The stock has a 50-day moving average of $112.62 and a 200-day moving average of $116.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity, Inc. has a twelve month low of $91.00 and a twelve month high of $129.50. The firm has a market capitalization of $11.55 billion, a P/E ratio of 43.48, a P/E/G ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping 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 period last year, the firm posted $1.25 earnings per share. Research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

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 given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio is presently 12.67%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the business'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 sale, 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. Company 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.