Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Revvity, Inc. (NYSE:RVTY)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,360 shares of the company's stock after purchasing an additional 7,555 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Revvity were worth $5,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. increased its stake in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after buying an additional 259 shares during the period. Gladius Capital Management LP acquired a new stake in Revvity during the 3rd quarter valued at approximately $32,000. Continuum Advisory LLC raised its holdings in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after purchasing an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after purchasing an additional 138 shares during the period. Finally, Avior Wealth Management LLC lifted its position in shares of Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock worth $52,000 after purchasing an additional 399 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related 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 value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at approximately $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 hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company's stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. KeyCorp lifted their price objective on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Raymond James restated an "outperform" rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Finally, Sanford C. Bernstein lowered Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Revvity Stock Down 0.6 %

Shares of NYSE:RVTY traded down $0.67 during midday trading on Tuesday, hitting $112.55. 965,570 shares of the company's stock were exchanged, compared to its average volume of 845,286. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a market cap of $13.52 billion, a PE ratio of 50.93, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The stock has a 50 day moving average price of $116.97 and a 200-day moving average price of $117.86.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results 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 return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the business earned $1.25 EPS. On average, sell-side analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given 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 is Thursday, April 17th. Revvity's payout ratio is currently 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.