33,500 Shares in Revvity, Inc. (NYSE:RVTY) Acquired by Searle & CO.

Searle & CO. purchased a new position in Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,500 shares of the company's stock, valued at approximately $3,662,000. Revvity comprises about 1.0% of Searle & CO.'s investment portfolio, making the stock its 26th largest position.

Several other hedge funds have also added to or reduced their stakes in the business. Byrne Asset Management LLC bought a new position in shares of Revvity during the fourth quarter valued at about $1,112,000. State of Michigan Retirement System bought a new position in shares of Revvity during the fourth quarter valued at about $3,688,000. Gulf International Bank UK Ltd bought a new position in shares of Revvity during the fourth quarter valued at about $1,136,000. State of Alaska Department of Revenue bought a new position in shares of Revvity during the fourth quarter valued at about $1,456,000. Finally, International Assets Investment Management LLC bought a new position in shares of Revvity during the fourth quarter valued at about $1,278,000. 86.65% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.60% of the company's stock.

Revvity Stock Up 0.1 %

RVTY traded up $0.13 during midday trading on Wednesday, reaching $102.60. The company's stock had a trading volume of 816,106 shares, compared to its average volume of 850,122. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 84.79, a PEG ratio of 2.73 and a beta of 1.09. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $132.54. The stock's 50-day moving average is $104.70 and its 200-day moving average is $101.32.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business had revenue of $649.90 million for the quarter, compared to analysts' expectations of $646.83 million. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. As a group, research analysts expect that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, July 19th. Revvity's payout ratio is 23.14%.

Analysts Set New Price Targets

RVTY has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, February 2nd. KeyCorp increased their price target 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. Barclays increased their price target 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. Raymond James increased their price target on shares of Revvity from $106.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, February 2nd. Finally, UBS Group downgraded shares of Revvity from a "buy" rating to a "neutral" rating and increased their price target for the stock from $105.00 to $125.00 in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

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.