Everence Capital Management Inc. Takes $1.77 Million Position in Revvity, Inc. (NYSE:RVTY)

Everence Capital Management Inc. bought a new position in Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,230 shares of the company’s stock, valued at approximately $1,774,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in Revvity in the 3rd quarter valued at $1,579,487,000. Ceredex Value Advisors LLC acquired a new position in Revvity during the 4th quarter worth approximately $108,353,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Revvity in the fourth quarter valued at approximately $33,568,000. Boston Trust Walden Corp purchased a new stake in shares of Revvity during the fourth quarter valued at approximately $25,154,000. Finally, KBC Group NV purchased a new position in shares of Revvity in the third quarter valued at $25,301,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Down 2.0 %

RVTY opened at $100.30 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $137.09. The stock’s 50 day moving average price is $104.96 and its 200 day moving average price is $101.71. The stock has a market cap of $12.39 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.66 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The company had revenue of $695.90 million for the quarter. As a group, research analysts predict that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.28%. The ex-dividend date is Thursday, April 18th. Revvity’s dividend payout ratio (DPR) is presently 5.09%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVTY. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. KeyCorp raised their price target on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Barclays boosted their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. UBS Group lowered Revvity from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company initiated coverage on Revvity in a report on Tuesday, December 19th. They issued an “equal weight” rating and a $95.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Insider Activity

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

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.