Invesco Ltd. Buys 274,923 Shares of Revvity, Inc. (NYSE:RVTY)

Invesco Ltd. increased its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,740,933 shares of the company's stock after purchasing an additional 274,923 shares during the quarter. Invesco Ltd. owned approximately 1.43% of Revvity worth $194,306,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RVTY. Vanguard Group Inc. raised its position in Revvity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Revvity by 2.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company's stock worth $384,234,000 after acquiring an additional 69,034 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Revvity by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company's stock valued at $322,958,000 after purchasing an additional 37,666 shares during the last quarter. Norges Bank acquired a new position in Revvity during the 4th quarter worth $127,801,000. Finally, Primecap Management Co. CA boosted its position in Revvity by 2.0% in the 4th quarter. Primecap Management Co. CA now owns 951,885 shares of the company's stock valued at $106,240,000 after buying an additional 18,580 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

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Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James reaffirmed an "outperform" rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $133.75.

Revvity Stock Down 2.1 %

Shares of NYSE:RVTY traded down $2.09 during trading on Tuesday, hitting $95.54. 1,177,420 shares of the company's stock traded hands, compared to its average volume of 888,236. 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 $89.61 and a 52 week high of $129.50. The company has a 50-day moving average price of $108.62 and a 200-day moving average price of $114.90. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results 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 quarter in the prior year, the company posted $1.25 earnings per share. As a group, research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Thursday, April 17th. Revvity's payout ratio is 12.67%.

Revvity Company 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.