Bank of New York Mellon Corp Acquires 58,876 Shares of Revvity, Inc. (NYSE:RVTY)

Bank of New York Mellon Corp boosted its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 826,110 shares of the company's stock after acquiring an additional 58,876 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Revvity worth $92,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Gladius Capital Management LP bought a new stake in Revvity during the 3rd quarter valued at approximately $32,000. Continuum Advisory LLC boosted its position in shares of Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after acquiring an additional 138 shares during the period. Avior Wealth Management LLC lifted its stake in Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock worth $52,000 after purchasing an additional 399 shares in the last quarter. Finally, Principal Securities Inc. increased its position in Revvity by 54.9% in the fourth quarter. Principal Securities Inc. now owns 598 shares of the company's stock worth $67,000 after purchasing an additional 212 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

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Revvity Trading Up 1.0 %

RVTY traded up $1.16 during mid-day trading on Thursday, reaching $112.89. The stock had a trading volume of 265,386 shares, compared to its average volume of 909,332. The firm's fifty day simple moving average is $116.77 and its two-hundred day simple moving average is $118.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The stock has a market capitalization of $13.56 billion, a P/E ratio of 51.00, a P/E/G ratio of 3.82 and a beta of 1.03. 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 announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 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 period in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio is currently 12.67%.

Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction 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 sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity 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 completion of the transaction, the insider now owns 19,652 shares of the company's stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Raymond James reiterated an "outperform" rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the stock 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 for the company. in a report on Friday, January 10th. Finally, Barclays upped their price objective on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Four 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. According to MarketBeat.com, Revvity has an average rating of "Moderate Buy" and an average target price of $136.25.

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.