Revvity, Inc. (NYSE:RVTY) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,884 shares of the company's stock after selling 12,912 shares during the period. Citigroup Inc. owned 0.07% of Revvity worth $10,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company's stock worth $9,142,000 after purchasing an additional 84,515 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Revvity by 27.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company's stock valued at $8,790,000 after acquiring an additional 18,367 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of Revvity by 21.3% during the second quarter. Artemis Investment Management LLP now owns 107,634 shares of the company's stock worth $11,287,000 after purchasing an additional 18,916 shares during the last quarter. Bretton Capital Management LLC purchased a new stake in Revvity in the third quarter valued at $1,405,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Revvity by 76.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company's stock worth $3,205,000 after purchasing an additional 13,283 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

RVTY has been the subject of several recent research reports. Barclays cut their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a report on Monday. Leerink Partners lifted their price target on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein dropped their price target on shares of Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.73.

Revvity Trading Down 0.1 %

NYSE RVTY traded down $0.09 during trading on Friday, hitting $116.14. The stock had a trading volume of 389,639 shares, compared to its average volume of 841,315. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $14.13 billion, a PE ratio of 56.11, a PEG ratio of 3.57 and a beta of 1.05. The firm has a 50 day moving average price of $119.71 and a 200 day moving average price of $115.97. Revvity, Inc. has a twelve month low of $87.58 and a twelve month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity's dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its board has authorized a share repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company's stock, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Revvity Profile

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.