Allstate Corp Acquires Shares of 3,645 Revvity, Inc. (NYSE:RVTY)

Allstate Corp purchased a new position in shares of Revvity, Inc. (NYSE:RVTY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,645 shares of the company’s stock, valued at approximately $407,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 259 shares during the period. Continuum Advisory LLC raised its stake in shares of Revvity by 2,972.7% during the third 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. Millstone Evans Group LLC acquired a new stake in shares of Revvity during the fourth quarter worth $38,000. MassMutual Private Wealth & Trust FSB grew its position in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in 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. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RVTY. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a report on Friday, January 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 report on Monday, February 3rd. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays boosted their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Four 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’s stock. According to data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Revvity Trading Up 2.3 %

NYSE:RVTY opened at $106.69 on Thursday. The company has a market capitalization of $12.82 billion, a PE ratio of 48.28, a price-to-earnings-growth 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. The stock has a fifty day simple moving average of $114.20 and a 200-day simple moving average of $116.84. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last announced its quarterly 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 net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the firm earned $1.25 EPS. On average, equities research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Revvity Company 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.