Bleakley Financial Group LLC Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Bleakley Financial Group LLC acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,897 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors have also recently bought and sold shares of the business. KBC Group NV purchased a new stake in shares of Revvity in the third quarter valued at about $25,301,000. Public Sector Pension Investment Board purchased a new stake in shares of Revvity in the third quarter valued at about $1,472,000. 2Xideas AG purchased a new stake in shares of Revvity in the third quarter valued at about $20,968,000. Citigroup Inc. purchased a new stake in shares of Revvity in the third quarter valued at about $5,548,000. Finally, Wesbanco Bank Inc. purchased a new stake in shares of Revvity in the third quarter valued at about $522,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and increased their price target for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Stifel Nicolaus increased 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. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $88.00 to $125.00 in a research report on Thursday, January 4th. Finally, Wells Fargo & Company assumed coverage on shares of Revvity in a research report on Tuesday, December 19th. They set an “equal weight” rating and a $95.00 target price for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Insider Activity at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Revvity Price Performance

RVTY stock opened at $100.30 on Wednesday. The firm has a 50 day moving average of $104.96 and a 200-day moving average of $101.71. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $137.09. The firm has a market capitalization of $12.39 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.69 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 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 company had revenue of $695.90 million during the quarter. As a group, sell-side analysts predict that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

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

About Revvity

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.