Truist Financial Corp Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Truist Financial Corp acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 64,855 shares of the company’s stock, valued at approximately $7,089,000. Truist Financial Corp owned approximately 0.05% of Revvity at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its holdings in shares of Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of Revvity in the 4th quarter valued at $25,000. CENTRAL TRUST Co acquired a new position in shares of Revvity in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new position in shares of Revvity in the 4th quarter valued at $32,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Revvity in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE RVTY opened at $100.61 on Friday. The firm has a market capitalization of $12.43 billion, a P/E ratio of 83.15, a PEG ratio of 2.67 and a beta of 1.09. Revvity, Inc. has a one year low of $79.50 and a one year high of $132.54. The company’s fifty day moving average is $104.56 and its two-hundred day moving average is $101.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.23.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Analysts forecast that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. Revvity’s payout ratio is currently 23.14%.

Analyst Ratings Changes

RVTY has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a report on Friday, February 2nd. KeyCorp lifted their target price on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Barclays lifted their target price on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Robert W. Baird boosted their price objective on shares of Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, UBS Group cut shares of 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 research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and an average price target of $118.17.

Insider Buying and Selling

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

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.