Paradigm Capital Management Inc. NY Sells 34,350 Shares of Revvity, Inc. (NYSE:RVTY)

Paradigm Capital Management Inc. NY cut its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 71.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,450 shares of the company's stock after selling 34,350 shares during the quarter. Paradigm Capital Management Inc. NY's holdings in Revvity were worth $1,501,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RVTY. T. Rowe Price Investment Management Inc. raised 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 worth $2,317,170,000 after purchasing an additional 2,969,326 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Revvity by 51.1% during the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in Revvity by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock worth $851,764,000 after acquiring an additional 1,151,821 shares during the period. Norges Bank purchased a new position in Revvity in the fourth quarter valued at about $127,801,000. Finally, Invesco Ltd. boosted its stake in Revvity by 18.8% in the fourth quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock valued at $194,306,000 after acquiring an additional 274,923 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Revvity Price Performance

RVTY stock traded down $1.01 during midday trading on Friday, reaching $89.47. The company had a trading volume of 1,023,503 shares, compared to its average volume of 951,592. The firm has a 50-day moving average price of $96.71 and a 200-day moving average price of $109.21. The company has a market capitalization of $10.55 billion, a P/E ratio of 40.48, a P/E/G ratio of 3.82 and a beta of 1.02. Revvity, Inc. has a 1 year low of $88.01 and a 1 year high of $129.50. 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 (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share 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 for the quarter, compared to the consensus estimate of $662.30 million. During the same quarter last year, the business posted $0.98 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared 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 dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio (DPR) is presently 11.91%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Robert W. Baird dropped their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Barclays reduced their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a report on Saturday. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $125.64.

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.