Everence Capital Management Inc. Invests $1.77 Million in Revvity, Inc. (NYSE:RVTY)

Everence Capital Management Inc. acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,230 shares of the company's stock, valued at approximately $1,774,000.

Several other institutional investors also recently bought and sold shares of the business. Gladius Capital Management LP boosted its stake in Revvity by 84.1% during the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company's stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. CENTRAL TRUST Co bought a new position in Revvity during the 4th quarter valued at $27,000. ORG Partners LLC bought a new position in Revvity during the 4th quarter valued at $32,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Revvity during the fourth quarter worth $33,000. Finally, Desjardins Global Asset Management Inc. acquired a new stake in shares of Revvity during the fourth quarter worth $37,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Prahlad R. Singh sold 21,217 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of 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 is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Revvity Price Performance

Revvity stock traded up $0.26 during trading hours on Wednesday, hitting $100.54. 773,236 shares of the company traded hands, compared to its average volume of 861,356. The firm has a market cap of $12.42 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.66 and a beta of 1.09. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The firm's 50-day simple moving average is $104.96 and its two-hundred day simple moving average is $101.71. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $136.89.

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

Revvity Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on RVTY. KeyCorp increased their target price on shares of Revvity from $110.00 to $126.00 and gave the stock an "overweight" rating in a report on Friday, February 2nd. Stifel Nicolaus increased their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a "hold" rating in a report on Friday, February 2nd. Wells Fargo & Company initiated coverage on shares of Revvity in a report on Tuesday, December 19th. They set an "equal weight" rating and a $95.00 target price on the stock. UBS Group cut shares of Revvity from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Finally, Evercore ISI raised shares of Revvity from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Revvity presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.91.

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.