Millennium Management LLC Sells 122,703 Shares of Revvity, Inc. (NYSE:RVTY)

Millennium Management LLC lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 78.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,353 shares of the company's stock after selling 122,703 shares during the quarter. Millennium Management LLC's holdings in Revvity were worth $3,834,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RVTY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Revvity by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,032 shares of the company's stock valued at $1,231,000 after purchasing an additional 435 shares during the period. Janus Henderson Group PLC lifted 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 acquiring an additional 23,650 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Revvity by 37.9% during the 4th quarter. Gotham Asset Management LLC now owns 163,756 shares of the company's stock valued at $18,277,000 after acquiring an additional 45,042 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Revvity by 139.7% in the 4th quarter. Focus Partners Wealth now owns 6,217 shares of the company's stock worth $694,000 after buying an additional 3,623 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its position 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 purchasing an additional 1,372,456 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY traded up $1.72 during midday trading on Tuesday, hitting $91.04. The stock had a trading volume of 927,607 shares, compared to its average volume of 952,783. The company has a market cap of $10.73 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The business has a fifty day moving average of $94.33 and a 200 day moving average of $107.84. Revvity, Inc. has a 1 year low of $87.92 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. The business had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. During the same quarter in the prior year, the company posted $0.98 EPS. Revvity's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. Revvity's dividend payout ratio is currently 11.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Robert W. Baird lowered their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price target for the company from $145.00 to $115.00 in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.64.

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.