Russell Investments Group Ltd. Increases Holdings in Revvity, Inc. (NYSE:RVTY)

Russell Investments Group Ltd. grew its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,387 shares of the company's stock after purchasing an additional 4,661 shares during the period. Russell Investments Group Ltd.'s holdings in Revvity were worth $5,172,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Revvity in the fourth quarter valued at approximately $127,801,000. Proficio Capital Partners LLC raised its position in shares of Revvity by 12,298.3% in the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company's stock valued at $21,850,000 after purchasing an additional 194,190 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Revvity during the 4th quarter worth about $20,735,000. Vanguard Group Inc. boosted its holdings in shares of Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after buying an additional 156,679 shares during the period. Finally, Tocqueville Asset Management L.P. grew its stake in Revvity by 91.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company's stock valued at $26,186,000 after buying an additional 111,937 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RVTY. Raymond James reiterated an "outperform" rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Barclays dropped their price target on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Sanford C. Bernstein lowered Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, KeyCorp raised their target price on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.42.

Insiders Place Their Bets

In related news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by corporate insiders.

Revvity Stock Down 2.1 %

NYSE:RVTY traded down $1.93 on Friday, hitting $91.82. The stock had a trading volume of 1,352,557 shares, compared to its average volume of 891,257. The stock has a market cap of $11.03 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm's fifty day simple moving average is $107.18 and its two-hundred day simple moving average is $114.37. Revvity, Inc. has a 1 year low of $89.61 and a 1 year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $1.25 EPS. Analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. 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.