Everence Capital Management Inc. Sells 3,480 Shares of Revvity, Inc. (NYSE:RVTY)

Everence Capital Management Inc. lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 27.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,170 shares of the company’s stock after selling 3,480 shares during the quarter. Everence Capital Management Inc.’s holdings in Revvity were worth $1,171,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Revvity by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after purchasing an additional 332,632 shares in the last quarter. EdgePoint Investment Group Inc. bought a new stake in Revvity in the second quarter worth approximately $209,221,000. Dimensional Fund Advisors LP increased its holdings in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after purchasing an additional 57,656 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in Revvity by 2.2% in the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock worth $114,815,000 after purchasing an additional 23,318 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the subject of several research analyst reports. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Bank of America increased their price objective on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Jefferies Financial Group increased their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Citigroup increased their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.20.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,807 shares of company stock worth $937,576. 0.60% of the stock is owned by corporate insiders.

Revvity Stock Performance

NYSE RVTY traded down $1.64 on Monday, hitting $118.03. 208,123 shares of the stock traded hands, compared to its average volume of 813,622. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The business’s fifty day moving average is $121.61 and its two-hundred day moving average is $113.13. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 98.90, a PEG ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

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.