T. Rowe Price Investment Management Inc. lessened its holdings in Revvity Inc. (NYSE:RVTY – Free Report) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,447,103 shares of the company’s stock after selling 54,137 shares during the quarter. Revvity comprises approximately 1.4% of T. Rowe Price Investment Management Inc.’s investment portfolio, making the stock its 12th largest holding. T. Rowe Price Investment Management Inc. owned 19.80% of Revvity worth $2,171,758,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Revvity by 26.3% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock valued at $751,536,000 after acquiring an additional 1,784,620 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Revvity by 127.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock worth $171,921,000 after purchasing an additional 980,142 shares during the last quarter. Norges Bank acquired a new position in Revvity during the fourth quarter valued at $80,382,000. Morgan Stanley lifted its position in Revvity by 29.6% during the fourth quarter. Morgan Stanley now owns 2,844,464 shares of the company’s stock valued at $275,202,000 after purchasing an additional 650,083 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Revvity by 39.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock valued at $186,307,000 after purchasing an additional 596,436 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.
Revvity Stock Up 2.7%
RVTY opened at $100.47 on Friday. Revvity Inc. has a fifty-two week low of $81.22 and a fifty-two week high of $118.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72. The company has a fifty day moving average of $95.82 and a two-hundred day moving average of $97.60. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 2.14 and a beta of 1.11.
Revvity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s dividend payout ratio is currently 13.40%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on RVTY. Weiss Ratings downgraded Revvity from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus decreased their price objective on Revvity from $110.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. TD Cowen upped their target price on Revvity from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $117.00 price target on Revvity in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Revvity from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.73.
Get Our Latest Report on Revvity
Revvity Profile
Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.
Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.
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