Bank of America Corp DE Has $49.67 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Bank of America Corp DE reduced its stake in Revvity, Inc. (NYSE:RVTY) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 445,017 shares of the company’s stock after selling 326,912 shares during the quarter. Bank of America Corp DE owned about 0.37% of Revvity worth $49,668,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RVTY. Quarry LP raised its position in shares of Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after purchasing an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Revvity by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC grew its stake in Revvity by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after acquiring an additional 104 shares in the last quarter. Signaturefd LLC boosted its stake in Revvity by 6.8% during the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after buying an additional 106 shares during the period. Finally, Westside Investment Management Inc. increased its position in shares of Revvity by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after purchasing an additional 108 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Down 1.4%

Revvity stock opened at $97.16 on Wednesday. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm has a market cap of $11.45 billion, a P/E ratio of 43.96, a P/E/G ratio of 3.82 and a beta of 1.02. Revvity, Inc. has a twelve month low of $88.53 and a twelve month high of $129.50. The business has a fifty day moving average of $100.25 and a two-hundred day moving average of $110.87.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.29%. Revvity’s dividend payout ratio (DPR) is 11.91%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RVTY. Raymond James restated an “outperform” rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and cut their target price for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Robert W. Baird cut their price objective on Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.64.

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.