Korea Investment CORP Buys 23,400 Shares of Revvity, Inc. (NYSE:RVTY)

Korea Investment CORP increased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 74.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,665 shares of the company’s stock after purchasing an additional 23,400 shares during the quarter. Korea Investment CORP’s holdings in Revvity were worth $6,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its holdings in shares of Revvity by 34.6% during the third 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 in the last quarter. Proficio Capital Partners LLC increased its holdings in 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 purchasing an additional 194,190 shares in the last quarter. Vanguard Group Inc. raised its position in Revvity by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Revvity by 91.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company’s stock valued at $26,186,000 after purchasing an additional 111,937 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the firm’s 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 transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Revvity Stock Up 0.2 %

Revvity stock opened at $105.83 on Tuesday. The company has a market capitalization of $12.72 billion, a PE ratio of 47.89, a PEG ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The firm’s fifty day moving average is $114.91 and its 200 day moving average is $117.04. 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 (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share 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 quarter last year, the company earned $1.25 EPS. As a group, sell-side analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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 dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Revvity’s dividend payout ratio is 12.67%.

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.