DnB Asset Management AS Reduces Position in Revvity, Inc. (NYSE:RVTY)

DnB Asset Management AS decreased its holdings in Revvity, Inc. (NYSE:RVTY) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,322 shares of the company’s stock after selling 244 shares during the quarter. DnB Asset Management AS’s holdings in Revvity were worth $2,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RVTY. Norges Bank bought a new stake in shares of Revvity in the fourth quarter worth approximately $127,801,000. EdgePoint Investment Group Inc. boosted its holdings in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Proficio Capital Partners LLC grew its position in Revvity by 12,298.3% in the 4th quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock worth $21,850,000 after purchasing an additional 194,190 shares during the period. Vanguard Group Inc. raised its stake in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after buying an additional 156,679 shares during the last quarter. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of Revvity by 91.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company’s stock valued at $26,186,000 after buying an additional 111,937 shares during the period. 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. Barclays lifted their price objective on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Sanford C. Bernstein lowered 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. Raymond James reissued an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. KeyCorp boosted their target price on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the 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 completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a document filed 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 transaction, the insider now 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 disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Revvity Trading Up 0.2 %

Shares of RVTY stock opened at $105.83 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The stock has a fifty day simple moving average of $114.91 and a two-hundred day simple moving average of $117.04. The firm has a market capitalization of $12.72 billion, a PE ratio of 47.89, a PEG ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50.

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

Revvity Dividend Announcement

The business also recently announced 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. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 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.