Cinctive Capital Management LP Has $979,000 Position in Revvity, Inc. (NYSE:RVTY)

Cinctive Capital Management LP cut its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 51.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,771 shares of the company's stock after selling 9,297 shares during the period. Cinctive Capital Management LP's holdings in Revvity were worth $979,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock valued at $470,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after buying an additional 104 shares during the last quarter. Signaturefd LLC boosted its holdings in Revvity by 6.8% during the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company's stock valued at $186,000 after acquiring an additional 106 shares during the period. Westside Investment Management Inc. boosted its stake in Revvity by 0.8% during the 4th 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 during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Revvity by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company's stock valued at $286,000 after acquiring an additional 110 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

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Revvity Stock Up 10.6 %

Shares of RVTY traded up $9.69 during midday trading on Wednesday, hitting $101.48. The stock had a trading volume of 1,898,224 shares, compared to its average volume of 886,716. 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 $12.19 billion, a price-to-earnings ratio of 45.92, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company has a 50 day simple moving average of $110.30 and a two-hundred day simple moving average of $115.59. Revvity, Inc. has a twelve month low of $89.61 and a twelve month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating 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 posted $1.25 EPS. On average, analysts anticipate 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's dividend payout ratio is currently 12.67%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RVTY. Barclays lifted their price objective on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a report 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 price target on the stock. in a research report on Friday, January 10th. Raymond James reiterated an "outperform" rating and issued a $145.00 price objective (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. KeyCorp lifted their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm's 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 completion of the transaction, the insider now directly owns 33,400 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by corporate 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.