T. Rowe Price Investment Management Inc. Acquires 2,969,326 Shares of Revvity, Inc. (NYSE:RVTY)

T. Rowe Price Investment Management Inc. grew its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,761,308 shares of the company's stock after buying an additional 2,969,326 shares during the period. Revvity makes up 1.4% of T. Rowe Price Investment Management Inc.'s portfolio, making the stock its 10th biggest position. T. Rowe Price Investment Management Inc. owned approximately 17.06% of Revvity worth $2,317,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC raised its holdings in Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after purchasing an additional 104 shares during the period. Signaturefd LLC boosted its position in shares of Revvity by 6.8% during the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company's stock worth $186,000 after purchasing an additional 106 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Revvity by 0.8% in the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company's stock valued at $1,603,000 after buying an additional 108 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Revvity by 33.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $58,000 after buying an additional 131 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business'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 $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is currently owned by insiders.

Revvity Stock Down 0.9 %

Revvity stock traded down $0.83 during mid-day trading on Friday, reaching $94.30. The company's stock had a trading volume of 1,390,004 shares, compared to its average volume of 913,814. The business's 50 day simple moving average is $104.87 and its 200 day simple moving average is $113.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 12 month low of $88.53 and a 12 month high of $129.50. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.68% and a net margin of 9.81%. During the same period in the previous year, the business posted $1.25 earnings per share. As a group, research analysts anticipate 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, August 8th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio is currently 12.67%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RVTY shares. Wells Fargo & Company reduced their target price on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Raymond James reaffirmed an "outperform" rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Robert W. Baird decreased their price objective on Revvity from $141.00 to $127.00 and set an "outperform" rating for the company in a research report on Monday. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, KeyCorp upped their price target 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.