KBC Group NV Sells 4,777 Shares of Revvity Inc. (NYSE:RVTY)

KBC Group NV cut its stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,745 shares of the company's stock after selling 4,777 shares during the quarter. KBC Group NV's holdings in Revvity were worth $3,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RVTY. Assetmark Inc. raised its holdings in shares of Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company's stock valued at $30,000 after acquiring an additional 259 shares during the period. Optiver Holding B.V. purchased a new position in Revvity during the 4th quarter worth approximately $33,000. Quarry LP raised its stake in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after purchasing an additional 95 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Revvity in the 4th quarter valued at about $38,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Revvity in the 4th quarter worth approximately $41,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group reduced their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Bank of America lowered their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Wall Street Zen raised Revvity from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity has an average rating of "Moderate Buy" and an average price target of $123.64.

Revvity Price Performance

Shares of RVTY stock traded up $0.41 during trading on Friday, hitting $101.31. The company had a trading volume of 811,002 shares, compared to its average volume of 970,726. The firm has a market capitalization of $11.94 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. Revvity Inc. has a one year low of $87.70 and a one 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 stock's 50-day moving average price is $93.90 and its 200 day moving average price is $104.99.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly 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. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The company had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the firm posted $0.98 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. 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.