Legal & General Group Plc Has $70.99 Million Holdings in Revvity, Inc. (NYSE:RVTY)

Legal & General Group Plc lowered its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 636,059 shares of the company's stock after selling 148,438 shares during the period. Legal & General Group Plc owned approximately 0.52% of Revvity worth $70,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of RVTY. Invesco Ltd. raised its holdings in Revvity by 18.8% in the 4th quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock worth $194,306,000 after purchasing an additional 274,923 shares during the period. Federated Hermes Inc. increased its stake in shares of Revvity by 13.7% in the 4th quarter. Federated Hermes Inc. now owns 229,524 shares of the company's stock worth $25,617,000 after acquiring an additional 27,684 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Revvity during the fourth quarter worth about $213,000. Russell Investments Group Ltd. grew its stake in shares of Revvity by 11.2% in the 4th quarter. Russell Investments Group Ltd. now owns 46,387 shares of the company's stock valued at $5,172,000 after buying an additional 4,661 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in Revvity by 24.2% during the fourth quarter. Sit Investment Associates Inc. now owns 820 shares of the company's stock worth $92,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have issued reports on RVTY shares. Sanford C. Bernstein lowered Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Barclays reduced their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. 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. Finally, KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.75.

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated 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 directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.68% of the company's stock.

Revvity Stock Down 1.8 %

RVTY stock traded down $1.75 during midday trading on Wednesday, hitting $93.79. 1,296,870 shares of the company's stock were exchanged, compared to its average volume of 889,610. 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 50 day moving average price of $108.15 and a 200-day moving average price of $114.76. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a 12-month low of $89.61 and a 12-month high of $129.50.

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

Revvity Announces Dividend

The company 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 $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. Revvity's dividend payout ratio (DPR) 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.