Revvity, Inc. (NYSE:RVTY) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. lessened its position in Revvity, Inc. (NYSE:RVTY) by 53.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,384,467 shares of the company’s stock after selling 2,789,757 shares during the period. Select Equity Group L.P.’s holdings in Revvity were worth $266,130,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in shares of Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after buying an additional 259 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Revvity in the fourth quarter valued at approximately $33,000. Quarry LP increased its position in Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Revvity during the fourth quarter worth approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RVTY. Wells Fargo & Company dropped their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. UBS Group raised shares of Revvity from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Barclays dropped their price target on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, KeyCorp upped their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $125.64.

Revvity Price Performance

RVTY opened at $93.21 on Friday. 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, Inc. has a 52-week low of $88.53 and a 52-week high of $129.50. The company has a 50 day moving average of $98.76 and a two-hundred day moving average of $110.37. The company has a market cap of $10.99 billion, a P/E ratio of 42.18, a P/E/G ratio of 3.82 and a beta of 1.02.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s dividend payout ratio (DPR) is 11.91%.

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.