Capital Research Global Investors Sells 97,751 Shares of Revvity, Inc. (NYSE:RVTY)

Capital Research Global Investors trimmed its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,990,283 shares of the company's stock after selling 97,751 shares during the quarter. Capital Research Global Investors owned 2.46% of Revvity worth $333,745,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after purchasing an additional 104 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Revvity by 6.8% in the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company's stock worth $186,000 after purchasing an additional 106 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Revvity by 0.8% during the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company's stock valued at $1,603,000 after purchasing an additional 108 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Revvity by 33.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after buying an additional 131 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 33,400 shares of the company's stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RVTY shares. Wells Fargo & Company reduced their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Robert W. Baird decreased their target price on shares of Revvity from $141.00 to $127.00 and set an "outperform" rating for the company in a research note on Monday. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.50.

Revvity Stock Performance

Revvity stock traded up $1.52 during midday trading on Thursday, hitting $95.20. The stock had a trading volume of 2,167,843 shares, compared to its average volume of 908,994. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 52-week low of $88.53 and a 52-week high of $129.50. The company has a market capitalization of $11.44 billion, a PE ratio of 43.08, a P/E/G ratio of 3.82 and a beta of 1.07. The firm's fifty day moving average is $105.56 and its two-hundred day moving average is $113.47.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the business earned $1.25 earnings per share. On average, research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.29%. Revvity's dividend payout ratio is currently 12.67%.

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.