Revvity, Inc. (NYSE:RVTY) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,635 shares of the company's stock after purchasing an additional 4,576 shares during the period. PNC Financial Services Group Inc.'s holdings in Revvity were worth $3,754,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RVTY. Principal Financial Group Inc. grew its stake in Revvity by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company's stock worth $18,124,000 after purchasing an additional 4,263 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Revvity by 258.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 881 shares of the company's stock valued at $113,000 after buying an additional 635 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Revvity by 3.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 299,723 shares of the company's stock worth $38,290,000 after buying an additional 9,473 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Revvity by 4.5% during the third quarter. Victory Capital Management Inc. now owns 59,860 shares of the company's stock worth $7,647,000 after buying an additional 2,582 shares during the period. Finally, Bretton Capital Management LLC acquired a new stake in Revvity in the third quarter valued at approximately $1,405,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company'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 approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. 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. KeyCorp raised 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 raised their price target on Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Finally, Raymond James reissued an "outperform" rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

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Revvity Trading Down 1.1 %

NYSE:RVTY opened at $110.29 on Friday. 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 $13.25 billion, a P/E ratio of 49.91, a PEG ratio of 3.82 and a beta of 1.06. The stock's 50 day simple moving average is $117.04 and its 200-day simple moving average is $118.04. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50.

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

Revvity Dividend Announcement

The firm 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend 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.

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