Ceredex Value Advisors LLC Invests $108.35 Million in Revvity, Inc. (NYSE:RVTY)

Ceredex Value Advisors LLC bought a new position in Revvity, Inc. (NYSE:RVTY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 991,245 shares of the company's stock, valued at approximately $108,353,000. Revvity makes up 1.9% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 5th largest holding. Ceredex Value Advisors LLC owned approximately 0.80% of Revvity at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. KBC Group NV purchased a new position in Revvity during the 3rd quarter valued at about $25,301,000. Public Sector Pension Investment Board purchased a new position in Revvity during the 3rd quarter valued at about $1,472,000. 2Xideas AG purchased a new position in Revvity during the 3rd quarter valued at about $20,968,000. Citigroup Inc. purchased a new position in Revvity during the 3rd quarter valued at about $5,548,000. Finally, Wesbanco Bank Inc. purchased a new position in Revvity during the 3rd quarter valued at about $522,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Trading Up 0.6 %

Shares of NYSE:RVTY traded up $0.60 during trading on Friday, hitting $102.28. The company had a trading volume of 643,796 shares, compared to its average volume of 709,274. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Revvity, Inc. has a one year low of $79.50 and a one year high of $139.04. The company has a fifty day simple moving average of $105.20 and a two-hundred day simple moving average of $101.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The business had revenue of $695.90 million during the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. As a group, equities analysts forecast that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, April 18th. Revvity's dividend payout ratio is currently 5.09%.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on Revvity in a research report on Wednesday, December 13th. They set a "peer perform" rating for the company. Evercore ISI upgraded Revvity from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Barclays lifted their price target on Revvity from $92.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, January 25th. Raymond James lifted their price target on Revvity from $106.00 to $127.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, December 19th. They set an "equal weight" rating and a $95.00 price target for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $118.91.

Insider Activity at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the company's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the transaction, the insider now directly owns 92,801 shares of the company's stock, valued at approximately $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

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.