Bank of America Corp DE Sells 326,912 Shares of Revvity, Inc. (NYSE:RVTY)

Bank of America Corp DE lowered its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 445,017 shares of the company's stock after selling 326,912 shares during the period. Bank of America Corp DE owned 0.37% of Revvity worth $49,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in RVTY. Principal Financial Group Inc. increased its stake in Revvity by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company's stock worth $18,124,000 after acquiring an additional 4,263 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Revvity by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock valued at $470,000 after purchasing an additional 100 shares in the last quarter. Czech National Bank boosted its holdings in shares of Revvity by 5.0% in the 4th quarter. Czech National Bank now owns 26,388 shares of the company's stock valued at $2,945,000 after purchasing an additional 1,263 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Revvity in the 4th quarter valued at $317,000. Finally, Contravisory Investment Management Inc. boosted 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 acquiring an additional 65,376 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

RVTY has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and decreased their target price for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Barclays decreased their target price on Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $125.64.

Revvity Trading Up 3.1%

NYSE RVTY traded up $2.81 during trading on Friday, hitting $93.21. 1,050,278 shares of the company's stock traded hands, compared to its average volume of 948,113. The stock has a fifty day moving average of $98.76 and a two-hundred day moving average of $110.37. 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, Inc. has a 12-month low of $88.53 and a 12-month high of $129.50. The firm has a market cap of $10.99 billion, a P/E ratio of 42.18, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results 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 company had revenue of $664.76 million during 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%. Revvity's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's payout ratio is currently 11.91%.

Revvity 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.