Vanguard Group Inc. Buys Shares of 14,268,176 Revvity, Inc. (NYSE:RVTY)

Vanguard Group Inc. acquired a new position in Revvity, Inc. (NYSE:RVTYFree Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,268,176 shares of the company’s stock, valued at approximately $1,579,487,000. Vanguard Group Inc. owned about 11.56% of Revvity as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RVTY. Headinvest LLC purchased a new position in shares of Revvity in the third quarter worth $57,000. Wesbanco Bank Inc. purchased a new position in Revvity during the 3rd quarter valued at $522,000. Citigroup Inc. purchased a new position in Revvity during the 3rd quarter valued at $5,548,000. 2Xideas AG purchased a new position in Revvity during the 3rd quarter valued at $20,968,000. Finally, Public Sector Pension Investment Board purchased a new position in Revvity during the 3rd quarter valued at $1,472,000. 82.63% of the stock is currently owned by institutional investors.

Revvity Trading Down 0.7 %

Shares of RVTY opened at $104.14 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $139.04. The company has a 50 day simple moving average of $106.61 and a two-hundred day simple moving average of $102.70. The firm has a market cap of $12.86 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10.

Revvity (NYSE:RVTYGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The business had revenue of $695.90 million during the quarter. On average, equities analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio is currently 5.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RVTY. Stifel Nicolaus upped their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. KeyCorp upped their price target on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, December 19th. They issued an “equal weight” rating and a $95.00 price target on the stock. UBS Group cut shares of Revvity from a “buy” rating to a “neutral” rating and upped their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Finally, Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus target price of $118.91.

View Our Latest Stock Report on Revvity

Insider Activity

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at approximately $9,677,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Revvity Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Revvity (NYSE:RVTY)

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