BlackRock Amends Revvity Stake to 12.0% as of Dec 31, 2023
Ticker: RVTY · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 31791
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investing, amendment, portfolio-rebalancing
TL;DR
**BlackRock trimmed its Revvity stake to 12.0% as of year-end 2023.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 26, 2024, indicating a change in its ownership of REVVITY, INC. common stock as of December 31, 2023. This amendment, the seventh for BlackRock regarding Revvity, shows that BlackRock now beneficially owns 15,027,341 shares, representing 12.0% of Revvity's outstanding common stock. This matters to investors because BlackRock, a major institutional investor, has slightly decreased its stake from the previously reported 12.1% (15,108,670 shares) in the prior filing, which could signal a minor shift in their investment conviction or portfolio rebalancing.
Why It Matters
This filing shows BlackRock, a major institutional investor, slightly reduced its ownership in Revvity, which could influence other investors' perceptions of the stock.
Risk Assessment
Risk Level: low — A minor change in institutional ownership by a passive investor like BlackRock typically poses a low risk to the stock's fundamentals.
Analyst Insight
Investors should note BlackRock's minor reduction in its Revvity stake, but recognize that as a passive institutional investor, this change is likely part of routine portfolio rebalancing rather than a strong directional signal.
Key Numbers
- 15,027,341 — Shares Beneficially Owned (This is the total number of Revvity common shares BlackRock Inc. reported owning as of December 31, 2023.)
- 12.0% — Percentage of Class (This represents BlackRock Inc.'s ownership stake in REVVITY, INC. common stock as of December 31, 2023.)
- 7 — Amendment Number (This indicates it is the seventh amendment to BlackRock's Schedule 13G filing for Revvity, showing ongoing adjustments to their position.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- REVVITY, INC. (company) — the subject company whose shares are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
- 15,027,341 (dollar_amount) — number of shares beneficially owned by BlackRock
- 12.0% (dollar_amount) — percentage of Revvity's common stock owned by BlackRock
Forward-Looking Statements
- BlackRock will continue to hold a significant, but potentially slightly fluctuating, passive stake in Revvity. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of this specific filing, SC 13G/A?
This SC 13G/A filing is an amendment (Amendment No: 7) to a Schedule 13G, indicating a change in beneficial ownership of REVVITY, INC. common stock by BlackRock Inc. as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., a major institutional investment manager, with its business address at 50 Hudson Yards, New York, NY.
What is the subject company whose shares are being reported?
The subject company is REVVITY, INC., formerly known as PerkinElmer Inc., with its business address at 940 Winter Street, Waltham, MA.
What was BlackRock's beneficial ownership percentage in REVVITY, INC. as of December 31, 2023?
As of December 31, 2023, BlackRock Inc. beneficially owned 15,027,341 shares of REVVITY, INC. common stock, which represents 12.0% of the class of securities.
When was this amendment filed with the SEC?
This Schedule 13G/A amendment was filed with the SEC on January 26, 2024, reflecting the ownership position as of December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding REVVITY, INC. (RVTY).