Bank of New York Mellon Corp Has $92.20 Million Stake in Revvity, Inc. (NYSE:RVTY)

Bank of New York Mellon Corp lifted its position in shares of Revvity, Inc. (NYSE:RVTY) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 826,110 shares of the company’s stock after buying an additional 58,876 shares during the quarter. Bank of New York Mellon Corp’s holdings in Revvity were worth $92,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Legacy Capital Group California Inc. bought a new stake in Revvity in the fourth quarter worth approximately $550,000. Handelsbanken Fonder AB grew its position in shares of Revvity by 4.9% during the 4th quarter. Handelsbanken Fonder AB now owns 33,960 shares of the company’s stock worth $3,790,000 after buying an additional 1,600 shares during the period. Ieq Capital LLC bought a new stake in shares of Revvity in the 4th quarter valued at $223,000. Private Advisor Group LLC lifted its position in shares of Revvity by 5.3% during the 4th quarter. Private Advisor Group LLC now owns 4,254 shares of the company’s stock valued at $475,000 after acquiring an additional 213 shares during the period. Finally, Keene & Associates Inc. boosted its stake in Revvity by 9.2% during the fourth quarter. Keene & Associates Inc. now owns 4,678 shares of the company’s stock worth $522,000 after acquiring an additional 395 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the subject of several research analyst reports. KeyCorp lifted their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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. TD Cowen upped their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. 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 MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Up 1.7 %

RVTY opened at $112.28 on Monday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The company’s 50-day moving average is $116.88 and its 200 day moving average is $118.47. The firm has a market capitalization of $13.49 billion, a P/E ratio of 50.81, a PEG ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping 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 in the previous year, the company posted $1.25 EPS. Research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity declared that its board has approved a stock buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.