Revvity, Inc. (NYSE:RVTY) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Revvity, Inc. (NYSE:RVTY) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,635 shares of the company’s stock after acquiring an additional 4,576 shares during the period. PNC Financial Services Group Inc.’s holdings in Revvity were worth $3,754,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. lifted its stake in shares of Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Gladius Capital Management LP acquired a new position in Revvity during the third quarter valued at approximately $32,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 valued at $43,000 after buying an additional 138 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after buying an additional 399 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Down 1.1 %

Shares of Revvity stock opened at $110.29 on Friday. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $117.04 and its 200-day simple moving average is $118.04.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping 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 previous year, the business posted $1.25 earnings per share. Equities research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is 12.67%.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction on Thursday, January 30th. The stock was 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 approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on RVTY shares. KeyCorp boosted their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Barclays boosted their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Finally, Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

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.