Charles Schwab Investment Management Inc. Raises Holdings in Revvity, Inc. (NYSE:RVTY)

Charles Schwab Investment Management Inc. grew its position in Revvity, Inc. (NYSE:RVTY) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 843,145 shares of the company’s stock after buying an additional 12,657 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Revvity were worth $94,103,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RVTY. EdgePoint Investment Group Inc. lifted its holdings in shares of Revvity by 34.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after buying an additional 690,534 shares during the period. Southpoint Capital Advisors LP purchased a new stake in shares of Revvity in the 3rd quarter worth $25,550,000. Proficio Capital Partners LLC lifted its holdings in shares of Revvity by 12,298.3% in the 4th quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock worth $21,850,000 after buying an additional 194,190 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares during the period. Finally, Holocene Advisors LP lifted its holdings in shares of Revvity by 14.6% in the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after buying an additional 92,240 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,922,494.10. Following the sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Up 4.2 %

Shares of RVTY stock opened at $117.95 on Monday. The stock’s 50-day simple moving average is $116.90 and its 200-day simple moving average is $118.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm has a market capitalization of $14.17 billion, a PE ratio of 53.37, a P/E/G ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the firm earned $1.25 EPS. Equities analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is presently 12.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays upped their price objective on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Company 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.