Allspring Global Investments Holdings LLC Invests $669,000 in Revvity, Inc. (NYSE:RVTY)

Allspring Global Investments Holdings LLC acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 6,117 shares of the company’s stock, valued at approximately $669,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Michigan Retirement System purchased a new stake in shares of Revvity in the fourth quarter worth $3,688,000. Gulf International Bank UK Ltd purchased a new stake in Revvity in the 4th quarter worth $1,136,000. State of Alaska Department of Revenue bought a new stake in Revvity during the fourth quarter valued at about $1,456,000. International Assets Investment Management LLC purchased a new position in shares of Revvity in the fourth quarter valued at about $1,278,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Revvity in the fourth quarter worth about $1,303,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RVTY. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $88.00 to $125.00 in a research note on Thursday, January 4th. Stifel Nicolaus upped their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Raymond James lifted their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Barclays increased their price objective 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. Finally, UBS Group cut Revvity from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.91.

Revvity Stock Down 0.8 %

Shares of NYSE RVTY opened at $102.68 on Thursday. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 2.62 and a beta of 1.09. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $133.26. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $104.72 and its 200-day moving average price is $101.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $695.90 million for the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. On average, equities research analysts anticipate that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Company 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.