Revvity, Inc. (NYSE:RVTY) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 41.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,688 shares of the company's stock after selling 27,600 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Revvity were worth $4,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after purchasing an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Revvity by 13.7% during the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after purchasing an additional 41,497 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after buying an additional 65,376 shares during the period. Janney Montgomery Scott LLC boosted its position in Revvity by 87.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after purchasing an additional 3,672 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Revvity by 41.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company's stock worth $1,352,000 after buying an additional 3,542 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RVTY has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company cut their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Robert W. Baird decreased their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. 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. Finally, 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 note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $125.64.

Revvity Stock Performance

Shares of NYSE:RVTY traded down $0.29 during trading on Monday, hitting $93.70. The stock had a trading volume of 106,411 shares, compared to its average volume of 1,115,834. Revvity, Inc. has a 12-month low of $88.53 and a 12-month high of $129.50. The stock has a 50-day simple moving average of $102.80 and a two-hundred day simple moving average of $112.02. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. The firm had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio (DPR) is presently 11.91%.

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.