Bank of New York Mellon Corp Sells 16,425 Shares of Revvity Inc. (NYSE:RVTY)

Bank of New York Mellon Corp trimmed its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 809,685 shares of the company's stock after selling 16,425 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Revvity worth $85,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. grew its position 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 buying an additional 259 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Revvity during the 4th quarter worth $33,000. Quarry LP boosted its stake in shares of Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Revvity during the fourth quarter worth $38,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Revvity during the fourth quarter worth $41,000. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RVTY shares. Raymond James Financial reissued an "outperform" rating and issued a $120.00 price target (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird lowered their price objective 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. Finally, Bank of America cut their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $123.07.

Revvity Stock Down 0.9%

Shares of NYSE RVTY traded down $0.91 during trading hours on Friday, hitting $101.49. The stock had a trading volume of 676,357 shares, compared to its average volume of 937,738. The firm's 50-day moving average price is $94.56 and its two-hundred day moving average price is $104.61. Revvity Inc. has a 52 week low of $87.70 and a 52 week high of $129.50. The company has a market capitalization of $11.96 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.58 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58.

Revvity (NYSE:RVTY - Get Free Report) last posted 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. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Analysts anticipate that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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