First Trust Advisors LP Has $5.95 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

First Trust Advisors LP lessened its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 60.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,276 shares of the company's stock after selling 79,908 shares during the period. First Trust Advisors LP's holdings in Revvity were worth $5,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Revvity during the fourth quarter worth approximately $127,801,000. Invesco Ltd. grew its holdings in shares of Revvity by 18.8% in the 4th quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock worth $194,306,000 after acquiring an additional 274,923 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Revvity by 12,298.3% during the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company's stock worth $21,850,000 after purchasing an additional 194,190 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Revvity in the 4th quarter valued at $20,735,000. Finally, Vanguard Group Inc. increased its stake in Revvity by 1.1% in 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 in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RVTY shares. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. 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. Finally, Raymond James reiterated an "outperform" rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $125.64.

Revvity Stock Performance

Shares of Revvity stock traded down $1.24 during trading on Tuesday, reaching $91.59. The company's stock had a trading volume of 52,548 shares, compared to its average volume of 926,658. Revvity, Inc. has a one year low of $88.53 and a one 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. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. The business's fifty day moving average price is $102.35 and its 200-day moving average price is $111.83.

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

Revvity Dividend Announcement

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 $0.07 dividend. 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 payout ratio 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.