Sandy Spring Bank Acquires New Stake in Revvity, Inc. (NYSE:RVTY)

Sandy Spring Bank purchased a new position in Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,482 shares of the company's stock, valued at approximately $1,036,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Michigan Retirement System acquired a new position in Revvity in the 4th quarter worth approximately $3,688,000. Gulf International Bank UK Ltd acquired a new position in Revvity in the 4th quarter worth approximately $1,136,000. State of Alaska Department of Revenue acquired a new stake in shares of Revvity during the 4th quarter worth approximately $1,456,000. Exchange Traded Concepts LLC acquired a new stake in shares of Revvity during the 4th quarter worth approximately $1,303,000. Finally, KBC Group NV acquired a new stake in shares of Revvity during the 3rd quarter worth approximately $25,301,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Buying and Selling at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of Revvity stock in a transaction on 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 owns 92,801 shares in the company, valued at approximately $9,677,288.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Revvity Price Performance

RVTY stock traded down $5.00 during midday trading on Friday, reaching $103.50. The stock had a trading volume of 994,181 shares, compared to its average volume of 858,552. The company's fifty day simple moving average is $105.11 and its 200 day simple moving average is $101.99. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.81 and a beta of 1.09. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $139.04.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $695.90 million for the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. As a group, sell-side analysts predict that Revvity, Inc. will post 4.65 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, May 10th. Shareholders of record on Friday, April 19th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity's payout ratio is currently 5.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RVTY shares. Barclays raised their price objective on shares of Revvity from $92.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 25th. UBS Group cut shares of Revvity from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $105.00 to $125.00 in a research note on Tuesday, January 16th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, December 19th. They set an "equal weight" rating and a $95.00 price objective on the stock. KeyCorp raised their price objective on shares of Revvity from $110.00 to $126.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus increased their target price on Revvity from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.91.

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.