Ilmarinen Mutual Pension Insurance Co Trims Holdings in Revvity, Inc. (NYSE:RVTY)

Ilmarinen Mutual Pension Insurance Co lessened its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,000 shares of the company's stock after selling 7,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Revvity were worth $3,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Revvity in the 4th quarter worth $127,801,000. EdgePoint Investment Group Inc. raised its stake in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock worth $343,108,000 after buying an additional 690,534 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Revvity by 12,298.3% in the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company's stock worth $21,850,000 after buying an additional 194,190 shares during the period. ExodusPoint Capital Management LP bought a new stake in Revvity during the 4th quarter valued at approximately $20,735,000. Finally, Vanguard Group Inc. boosted its position in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after acquiring an additional 156,679 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 research note on Friday, January 10th. Raymond James reissued an "outperform" rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target for the company in a research note on Friday, December 13th. KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays dropped their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.75.

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Revvity Stock Performance

NYSE:RVTY traded up $0.94 during mid-day trading on Friday, reaching $93.96. The company's stock had a trading volume of 951,643 shares, compared to its average volume of 888,735. The firm's fifty day moving average price is $109.69 and its two-hundred day moving average price is $115.36. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.29 billion, a P/E ratio of 42.44, a PEG ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a 12-month low of $89.61 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share 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 quarter in the prior year, the business earned $1.25 EPS. On average, equities analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio (DPR) is presently 12.67%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is owned by corporate 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.