Revvity, Inc. (NYSE:RVTY) Stock Holdings Lessened by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,193 shares of the company's stock after selling 5,568 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Revvity worth $8,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. increased its position in Revvity by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after purchasing an additional 10,390 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after buying an additional 41,497 shares during the period. Contravisory Investment Management Inc. boosted its holdings in Revvity by 1,715.9% in the fourth 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 position in Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company's stock valued at $19,872,000 after acquiring an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Revvity by 87.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after acquiring an additional 3,672 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

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Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Revvity Stock Performance

Shares of NYSE RVTY traded down $5.37 during trading on Thursday, reaching $101.35. The stock had a trading volume of 192,872 shares, compared to its average volume of 873,127. The firm's 50 day moving average price is $114.20 and its two-hundred day moving average price is $116.84. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The stock has a market cap of $12.18 billion, a PE ratio of 45.86, a P/E/G ratio of 3.82 and a beta of 1.06. 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 (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating 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 last year, the firm posted $1.25 earnings per share. On average, research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

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

Analysts Set New Price Targets

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

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.