Alliancebernstein L.P. Sells 850,921 Shares of Revvity, Inc. (NYSE:RVTY)

Alliancebernstein L.P. trimmed its position in shares of Revvity, Inc. (NYSE:RVTY) by 86.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,084 shares of the company’s stock after selling 850,921 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Revvity worth $14,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RVTY. Assetmark Inc. increased its holdings in Revvity by 3,700.0% during the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Revvity in the fourth quarter valued at about $38,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Revvity by 33.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $58,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RVTY. Raymond James reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Barclays lifted their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. KeyCorp boosted their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by company insiders.

Revvity Stock Down 4.8 %

Shares of NYSE RVTY opened at $91.58 on Wednesday. Revvity, Inc. has a 52-week low of $90.26 and a 52-week high of $129.50. 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 stock has a market cap of $11.00 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.82 and a beta of 1.07. The firm has a 50 day moving average price of $111.30 and a 200 day moving average price of $115.83.

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

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

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.