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

Select Equity Group L.P. cut its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 53.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RVTY. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Revvity by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after purchasing an additional 91 shares in the last quarter. Quarry LP lifted its position 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 buying an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 buying an additional 100 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Revvity by 4.6% during the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock worth $266,000 after acquiring an additional 104 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Revvity by 6.8% during the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company's stock valued at $186,000 after acquiring an additional 106 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Price Performance

NYSE:RVTY traded up $0.44 during trading hours on Thursday, reaching $90.27. The company had a trading volume of 536,019 shares, compared to its average volume of 1,130,916. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $97.62 and a two-hundred day moving average of $109.81. Revvity, Inc. has a one year low of $88.53 and a one year high of $129.50. The firm has a market capitalization of $10.64 billion, a PE ratio of 40.83, a PEG ratio of 3.82 and a beta of 1.02.

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

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, July 18th. Revvity's payout ratio is 11.91%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Barclays reduced their price objective on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. KeyCorp upped 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. Robert W. Baird cut their target price on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company cut their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and a consensus price target of $125.64.

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.