CIBC Private Wealth Group LLC Sells 9,265 Shares of Revvity, Inc. (NYSE:RVTY)

CIBC Private Wealth Group LLC reduced its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 293,614 shares of the company's stock after selling 9,265 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.24% of Revvity worth $34,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in Revvity by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock valued at $7,841,000 after acquiring an additional 10,390 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after purchasing an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the last quarter. FMR LLC raised its position in Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company's stock worth $19,872,000 after purchasing an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Revvity by 87.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after purchasing an additional 3,672 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Down 5.9 %

Shares of NYSE RVTY traded down $5.96 during midday trading on Friday, hitting $94.79. 2,108,519 shares of the company traded hands, compared to its average volume of 882,910. Revvity, Inc. has a 12-month low of $93.54 and a 12-month high of $129.50. The firm has a market cap of $11.39 billion, a P/E ratio of 42.89, a P/E/G 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. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the business earned $1.25 EPS. As a group, analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared 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. 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 (DPR) is currently 12.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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. Raymond James reaffirmed an "outperform" rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. 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, Barclays increased their price target 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. Four investment 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $136.25.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, 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. 0.68% of the stock is currently owned by insiders.

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.