Sit Investment Associates Inc. Purchases 160 Shares of Revvity, Inc. (NYSE:RVTY)

Sit Investment Associates Inc. grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 820 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Sit Investment Associates Inc.’s holdings in Revvity were worth $92,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after purchasing an additional 156,679 shares in the last quarter. State Street Corp lifted its holdings in shares of Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after buying an additional 17,832 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Revvity by 2.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company’s stock valued at $384,234,000 after acquiring an additional 69,034 shares during the period. Geode Capital Management LLC grew its stake in Revvity by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company’s stock valued at $322,958,000 after acquiring an additional 37,666 shares in the last quarter. Finally, Norges Bank bought a new stake in Revvity during the 4th quarter worth approximately $127,801,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated 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 directly owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Revvity Stock Up 1.3 %

RVTY opened at $96.09 on Tuesday. Revvity, Inc. has a 12 month low of $91.00 and a 12 month high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $112.62 and its 200-day moving average price is $116.22. The company has a market cap of $11.55 billion, a P/E ratio of 43.48, a P/E/G ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping 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 period in the previous year, the company posted $1.25 EPS. On average, equities analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given 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 yield of 0.29%. Revvity’s payout ratio is currently 12.67%.

Analysts Set New Price Targets

RVTY has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Friday, December 13th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Barclays upped their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.