Revvity, Inc. (NYSE:RVTY) Holdings Trimmed by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its position in shares of Revvity, Inc. (NYSE:RVTY) by 74.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,586 shares of the company’s stock after selling 39,407 shares during the period. Impax Asset Management Group plc’s holdings in Revvity were worth $1,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares during the period. State Street Corp boosted its stake in shares of Revvity by 0.3% during the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after buying an additional 17,832 shares during the period. Geode Capital Management LLC boosted its stake in shares of Revvity by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after buying an additional 25,078 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after buying an additional 690,534 shares during the period. Finally, RGM Capital LLC boosted its stake in shares of Revvity by 3.2% during the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after buying an additional 30,000 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of research reports. Barclays lifted their target price on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. KeyCorp lifted their target price on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $115.71 on Wednesday. The firm’s 50-day moving average is $116.77 and its 200-day moving average is $118.59. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 52.36, a PEG ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $1.25 EPS. Equities research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s payout ratio is 12.67%.

Revvity announced that its board has authorized a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.