Revvity, Inc. (NYSE:RVTY) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,249 shares of the company's stock after selling 7,602 shares during the quarter. King Luther Capital Management Corp owned 0.16% of Revvity worth $21,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Revvity by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company's stock valued at $18,124,000 after purchasing an additional 4,263 shares during the period. Proficio Capital Partners LLC purchased a new stake in Revvity during the third quarter valued at about $202,000. Legacy Capital Wealth Partners LLC acquired a new position in shares of Revvity in the third quarter worth about $210,000. Venturi Wealth Management LLC increased its position in shares of Revvity by 258.1% in the third quarter. Venturi Wealth Management LLC now owns 881 shares of the company's stock worth $113,000 after acquiring an additional 635 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings 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 valued at $38,290,000 after acquiring an additional 9,473 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares of the company's stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the firm's 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 sale, 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 disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Barclays lifted their target price on Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $136.25.

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Revvity Price Performance

NYSE RVTY opened at $112.97 on Wednesday. The company has a 50 day moving average price of $117.07 and a two-hundred day moving average price of $118.14. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The stock has a market capitalization of $13.57 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (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. As a group, equities analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's dividend payout ratio is 12.67%.

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.

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