Pictet Asset Management Holding SA Lowers Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Pictet Asset Management Holding SA lowered its holdings in Revvity, Inc. (NYSE:RVTY) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,121,454 shares of the company’s stock after selling 31,044 shares during the period. Pictet Asset Management Holding SA’s holdings in Revvity were worth $125,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after buying an additional 259 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Revvity in the fourth quarter worth approximately $38,000. Continuum Advisory LLC increased its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 131 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Performance

NYSE:RVTY opened at $105.65 on Friday. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The stock has a market cap of $12.69 billion, a P/E ratio of 47.81, a PEG ratio of 3.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a 50-day moving average of $115.16 and a two-hundred day moving average of $117.19.

Revvity (NYSE:RVTY) last issued 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 posted $1.25 earnings per share. On average, research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s dividend payout ratio (DPR) is 12.67%.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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