Cascade Financial Partners LLC Sells 7,594 Shares of Revvity, Inc. (NYSE:RVTY)

Cascade Financial Partners LLC cut its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,671 shares of the company’s stock after selling 7,594 shares during the period. Revvity accounts for approximately 2.7% of Cascade Financial Partners LLC’s investment portfolio, making the stock its 6th biggest holding. Cascade Financial Partners LLC’s holdings in Revvity were worth $20,834,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Revvity by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company’s stock valued at $18,124,000 after acquiring an additional 4,263 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Revvity in the 3rd quarter valued at $202,000. Legacy Capital Wealth Partners LLC acquired a new position in shares of Revvity in the 3rd quarter valued at $210,000. Venturi Wealth Management LLC increased its position in shares of Revvity by 258.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 881 shares of the company’s stock valued at $113,000 after acquiring an additional 635 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Revvity by 3.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 299,723 shares of the company’s stock valued at $38,290,000 after acquiring an additional 9,473 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RVTY. KeyCorp upped their target price 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 target on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Friday, December 13th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Four 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 an average rating of “Moderate Buy” and an average price target of $136.25.

Revvity Trading Down 4.4 %

Shares of Revvity stock opened at $112.97 on Wednesday. The firm has a market capitalization of $13.57 billion, a PE ratio of 51.12, a P/E/G ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The firm’s 50-day moving average price is $117.07 and its 200 day moving average price is $118.14. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued its quarterly earnings results 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 net margin of 9.81% and a return on equity of 7.68%. During the same period last year, the firm posted $1.25 EPS. On average, sell-side analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio is presently 12.67%.

Insider Buying and Selling at Revvity

In other Revvity 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 value of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

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.