Revvity, Inc. (NYSE:RVTY) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its position in Revvity, Inc. (NYSE:RVTY) by 16.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,993 shares of the company’s stock after selling 10,233 shares during the period. Impax Asset Management Group plc’s holdings in Revvity were worth $6,770,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after buying an additional 210,100 shares during the period. EdgePoint Investment Group Inc. acquired a new stake in Revvity during the second quarter worth $209,221,000. Dimensional Fund Advisors LP raised its position in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Revvity by 2.2% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after purchasing an additional 23,318 shares during the last quarter. Finally, RGM Capital LLC grew its holdings in shares of Revvity by 6.7% during the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock worth $99,707,000 after purchasing an additional 59,994 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Revvity Trading Down 5.6 %

NYSE:RVTY opened at $109.52 on Friday. Revvity, Inc. has a 1 year low of $86.30 and a 1 year high of $129.50. The stock has a market cap of $13.33 billion, a P/E ratio of 52.91, a P/E/G ratio of 2.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a 50-day simple moving average of $121.63 and a 200-day simple moving average of $115.23.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has approved a share repurchase plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RVTY shares. TD Cowen boosted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird increased their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Raymond James lifted their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America raised their price target on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and a consensus target price of $132.07.

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.