Select Equity Group L.P. Sells 2,789,757 Shares of Revvity, Inc. (NYSE:RVTY)

Select Equity Group L.P. lessened its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,384,467 shares of the company's stock after selling 2,789,757 shares during the quarter. Select Equity Group L.P. owned approximately 1.96% of Revvity worth $266,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its stake in shares of Revvity by 0.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock worth $1,682,000 after purchasing an additional 91 shares during the last quarter. Quarry LP raised its stake in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after purchasing an additional 104 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Revvity by 6.8% in the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company's stock worth $186,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RVTY shares. KeyCorp boosted their price target on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $145.00 to $115.00 in a research note on Thursday, May 1st. Raymond James restated an "outperform" rating and issued a $120.00 price target (down previously from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Robert W. Baird cut their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. cut their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $125.64.

Revvity Price Performance

NYSE RVTY traded down $0.91 during trading hours on Tuesday, reaching $93.39. The company's stock had a trading volume of 1,072,766 shares, compared to its average volume of 948,352. The firm's 50-day moving average price is $98.41 and its 200-day moving average price is $110.06. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 1 year low of $88.53 and a 1 year high of $129.50. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 3.82 and a beta of 1.02.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity's payout ratio is presently 11.91%.

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.