Korea Investment CORP Boosts Stake in Revvity, Inc. (NYSE:RVTY)

Korea Investment CORP raised its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 74.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,665 shares of the company's stock after buying an additional 23,400 shares during the quarter. Korea Investment CORP's holdings in Revvity were worth $6,101,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Revvity by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock valued at $7,841,000 after purchasing an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after acquiring an additional 41,497 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after acquiring an additional 65,376 shares during the last quarter. FMR LLC grew its stake in shares of Revvity by 40.8% in the third quarter. FMR LLC now owns 155,556 shares of the company's stock worth $19,872,000 after acquiring an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Revvity by 87.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock valued at $881,000 after purchasing an additional 3,672 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Revvity Price Performance

RVTY traded down $5.96 on Thursday, hitting $100.76. 929,332 shares of the company's stock traded hands, compared to its average volume of 875,953. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. 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 firm has a market cap of $12.11 billion, a price-to-earnings ratio of 45.59, a P/E/G ratio of 3.82 and a beta of 1.06. The company's 50 day simple moving average is $114.20 and its 200-day simple moving average is $116.84.

Revvity (NYSE:RVTY - Get Free Report) last released 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 net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the firm earned $1.25 EPS. As a group, research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. Revvity's dividend payout ratio (DPR) is 12.67%.

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.