Bank of America Corp DE Trims Holdings in Revvity, Inc. (NYSE:RVTY)

Bank of America Corp DE decreased its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 445,017 shares of the company's stock after selling 326,912 shares during the quarter. Bank of America Corp DE owned 0.37% of Revvity worth $49,668,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock worth $30,000 after acquiring an additional 259 shares during the last quarter. Optiver Holding B.V. purchased a new position in Revvity in the fourth quarter worth approximately $33,000. Quarry LP raised its holdings 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 in the last quarter. Millstone Evans Group LLC acquired a new stake in Revvity during the fourth quarter worth approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Robert W. Baird cut their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Barclays cut their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Price Performance

Shares of NYSE RVTY traded up $1.05 during trading on Monday, hitting $94.31. 923,058 shares of the company were exchanged, compared to its average volume of 947,456. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 3.82 and a beta of 1.02. Revvity, Inc. has a 1 year low of $88.53 and a 1 year high of $129.50. The firm's fifty day moving average price is $98.41 and its 200 day moving average price is $110.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

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

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. Revvity's dividend payout ratio 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.