ProShare Advisors LLC Buys 14,645 Shares of Revvity, Inc. (NYSE:RVTY)

ProShare Advisors LLC increased its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,280 shares of the company's stock after purchasing an additional 14,645 shares during the period. ProShare Advisors LLC's holdings in Revvity were worth $3,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RVTY. T. Rowe Price Investment Management Inc. lifted its stake in shares of Revvity by 16.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company's stock worth $2,317,170,000 after buying an additional 2,969,326 shares in the last quarter. EdgePoint Investment Group Inc. raised 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 acquiring an additional 1,372,456 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Revvity by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company's stock valued at $851,764,000 after acquiring an additional 1,151,821 shares in the last quarter. Norges Bank bought a new position in Revvity in the 4th quarter valued at approximately $127,801,000. Finally, Invesco Ltd. lifted its position in Revvity by 18.8% in the 4th 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 in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of RVTY traded down $1.01 on Friday, reaching $89.47. The company's stock had a trading volume of 1,023,503 shares, compared to its average volume of 951,592. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market capitalization of $10.55 billion, a P/E ratio of 40.48, a PEG ratio of 3.82 and a beta of 1.02. The stock's 50 day simple moving average is $96.71 and its two-hundred day simple moving average is $109.11. Revvity, Inc. has a 12-month low of $88.01 and a 12-month high of $129.50.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's dividend payout ratio is currently 11.91%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James reaffirmed an "outperform" rating and issued a $120.00 price objective (down from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. The Goldman Sachs Group lowered their price objective on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays dropped their price target 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. Wells Fargo & Company dropped their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.