Price T Rowe Associates Inc. MD Has $851.76 Million Stake in Revvity, Inc. (NYSE:RVTY)

Price T Rowe Associates Inc. MD raised its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,631,597 shares of the company's stock after purchasing an additional 1,151,821 shares during the period. Price T Rowe Associates Inc. MD owned 6.27% of Revvity worth $851,764,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in Revvity by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after acquiring an additional 10,390 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after purchasing an additional 41,497 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock worth $7,722,000 after purchasing an additional 65,376 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after purchasing an additional 3,672 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Revvity by 41.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company's stock worth $1,352,000 after purchasing an additional 3,542 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company's stock.

Revvity Price Performance

Shares of RVTY stock traded up $0.53 during trading hours on Tuesday, reaching $95.59. 657,892 shares of the company were exchanged, compared to its average volume of 917,827. The stock's fifty day moving average is $104.47 and its two-hundred day moving average is $112.80. Revvity, Inc. has a fifty-two week low of $88.53 and a fifty-two week high of $129.50. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 43.26, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. The business had revenue of $664.76 million for the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. Revvity's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Sell-side analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm 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. The ex-dividend date is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. Revvity's payout ratio is 12.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. KeyCorp boosted their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a research note on Tuesday. Robert W. Baird lowered their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company lowered 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. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.58.

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.