Eversept Partners LP Sells 77,174 Shares of Revvity, Inc. (NYSE:RVTY)

Eversept Partners LP lowered its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,518 shares of the company's stock after selling 77,174 shares during the period. Revvity makes up about 3.9% of Eversept Partners LP's investment portfolio, making the stock its 7th largest position. Eversept Partners LP owned approximately 0.32% of Revvity worth $43,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after purchasing an additional 259 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Revvity during the fourth quarter worth about $38,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after acquiring an additional 138 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after acquiring an additional 131 shares during the period. Finally, GeoWealth Management LLC bought a new position in shares of Revvity during the fourth quarter valued at approximately $60,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the 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 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company's stock.

Revvity Price Performance

Revvity stock traded up $1.52 during mid-day trading on Thursday, hitting $95.20. The company's stock had a trading volume of 2,167,978 shares, compared to its average volume of 910,104. The stock's fifty day moving average price is $105.22 and its two-hundred day moving average price is $113.28. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $11.44 billion, a P/E ratio of 43.08, a P/E/G ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a twelve month low of $88.53 and a twelve month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted 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 period last year, the business earned $1.25 earnings per share. Research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. Revvity's payout ratio is 12.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RVTY shares. Wells Fargo & Company reduced their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. Raymond James reissued an "outperform" rating and set a $145.00 target price (up 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 on the stock in a research note on Thursday, April 10th. Finally, KeyCorp lifted 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. Four investment 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.com, Revvity currently has an average rating of "Moderate Buy" and an average price target of $130.50.

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.