Korea Investment CORP Boosts Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Korea Investment CORP grew its position in Revvity, Inc. (NYSE:RVTY) by 74.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,665 shares of the company’s stock after purchasing an additional 23,400 shares during the period. Korea Investment CORP’s holdings in Revvity were worth $6,101,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RVTY. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Revvity during the fourth quarter valued at approximately $107,000. Vanguard Group Inc. boosted its stake in Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after buying an additional 156,679 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Revvity during the fourth quarter worth about $4,777,000. Millstone Evans Group LLC bought a new position in Revvity in the 4th quarter worth about $38,000. Finally, Royal London Asset Management Ltd. increased its stake in Revvity by 15.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 50,437 shares of the company’s stock worth $5,629,000 after acquiring an additional 6,770 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction on 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 directly owns 19,652 shares of the company’s stock, 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 0.68% of the company’s stock.

Revvity Trading Up 0.2 %

NYSE RVTY opened at $105.83 on Tuesday. The stock has a 50-day moving average of $114.91 and a 200-day moving average of $117.04. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The firm has a market cap of $12.72 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last released 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 quarter last year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Wall Street Analysts Forecast Growth

RVTY has been the subject of several recent analyst reports. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Barclays increased their price target on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Finally, KeyCorp increased their target price on Revvity from $132.00 to $145.00 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

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.