Bessemer Group Inc. Lowers Stock Position in Revvity Inc. (NYSE:RVTY)

Bessemer Group Inc. cut its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 56.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,288 shares of the company's stock after selling 19,866 shares during the period. Bessemer Group Inc.'s holdings in Revvity were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of Revvity by 16.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock valued at $2,317,170,000 after buying an additional 2,969,326 shares during the period. Vanguard Group Inc. boosted its position in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after purchasing an additional 156,679 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Revvity by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after purchasing an additional 1,151,821 shares during the period. Janus Henderson Group PLC boosted its position in Revvity by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company's stock worth $709,725,000 after purchasing an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company's stock worth $452,939,000 after buying an additional 1,372,456 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Trading Down 1.0%

Shares of NYSE:RVTY opened at $97.78 on Friday. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.39 and a beta of 0.97. Revvity Inc. has a 1-year low of $87.70 and a 1-year high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58. The company has a 50 day moving average price of $93.36 and a 200 day moving average price of $105.37.

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

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio (DPR) is currently 11.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RVTY. Barclays cut their price objective 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. Robert W. Baird cut their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Raymond James Financial restated an "outperform" rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. The Goldman Sachs Group cut their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.64.

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.

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