Revvity, Inc. (NYSE:RVTY) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in Revvity, Inc. (NYSE:RVTY) by 42.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 445,017 shares of the company’s stock after selling 326,912 shares during the quarter. Bank of America Corp DE’s holdings in Revvity were worth $49,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock valued at $2,317,170,000 after purchasing an additional 2,969,326 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the period. Norges Bank acquired a new stake in Revvity during the fourth quarter worth $127,801,000. Invesco Ltd. increased its position in shares of Revvity by 18.8% during the fourth quarter. Invesco Ltd. now owns 1,740,933 shares of the company’s stock valued at $194,306,000 after acquiring an additional 274,923 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Revvity by 12,298.3% in the 4th quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock valued at $21,850,000 after acquiring an additional 194,190 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY stock opened at $97.16 on Wednesday. The stock’s 50 day moving average price is $100.25 and its 200 day moving average price is $110.87. The firm has a market cap of $11.45 billion, a P/E ratio of 43.96, a PEG ratio of 3.82 and a beta of 1.02. 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 1 year low of $88.53 and a 1 year high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.05. The business had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. Revvity’s dividend payout ratio is currently 11.91%.

Analysts Set New Price Targets

RVTY has been the topic of several research reports. KeyCorp increased their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their target price on shares of Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Raymond James reissued an “outperform” rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective on Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.64.

Revvity 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.