KLP Kapitalforvaltning AS Makes New $4.78 Million Investment in Revvity, Inc. (NYSE:RVTY)

KLP Kapitalforvaltning AS bought a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,800 shares of the company's stock, valued at approximately $4,777,000.

Several other institutional investors have also recently bought and sold shares of RVTY. Millstone Evans Group LLC bought a new stake in Revvity during the 4th quarter worth about $38,000. Royal London Asset Management Ltd. raised its holdings in Revvity by 15.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 50,437 shares of the company's stock worth $5,629,000 after acquiring an additional 6,770 shares in the last quarter. Generali Investments Management Co LLC acquired a new position in Revvity during the fourth quarter valued at approximately $385,000. Primecap Management Co. CA grew its stake in Revvity by 2.0% in the fourth quarter. Primecap Management Co. CA now owns 951,885 shares of the company's stock valued at $106,240,000 after purchasing an additional 18,580 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in shares of Revvity by 91.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company's stock worth $26,186,000 after purchasing an additional 111,937 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RVTY. Raymond James reiterated an "outperform" rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. Bank of America raised shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Barclays lifted their target price on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, KeyCorp increased their price target on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.25.

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Revvity Price Performance

Shares of Revvity stock traded down $1.69 during trading on Friday, reaching $105.65. 852,250 shares of the company's stock were exchanged, compared to its average volume of 874,547. 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, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The company has a market cap of $12.69 billion, a P/E ratio of 47.81, a PEG ratio of 3.82 and a beta of 1.06. The firm's 50-day moving average price is $115.16 and its 200 day moving average price is $117.16.

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

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. 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 0.27%. Revvity's dividend payout ratio is currently 12.67%.

Insider Buying and Selling at Revvity

In other 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 transaction of $1,922,494.10. Following the completion of the transaction, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

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.