Impax Asset Management Group plc Trims Position in Revvity, Inc. (NYSE:RVTY)

Impax Asset Management Group plc trimmed its holdings in Revvity, Inc. (NYSE:RVTY) by 16.2% in the third quarter, according to its most recent disclosure with the SEC. 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rothschild Investment LLC acquired a new position in shares of Revvity during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after acquiring an additional 167 shares during the period. Family Firm Inc. acquired a new position in shares of Revvity during the second quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the second quarter worth about $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity during the first quarter worth about $48,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Revvity Stock Down 5.6 %

Shares of 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 firm’s 50 day moving average price is $121.63 and its 200 day moving average price is $115.23. The firm has a market cap of $13.33 billion, a P/E ratio of 52.91, a price-to-earnings-growth 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.

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

Revvity declared that its Board of Directors has approved 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 reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued 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 dividend yield of 0.26%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Raymond James upped their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners upped their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup upped their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.07.

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.