Acadian Asset Management LLC Purchases New Stake in Revvity, Inc. (NYSE:RVTY)

Acadian Asset Management LLC acquired a new position in Revvity, Inc. (NYSE:RVTY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,274 shares of the company’s stock, valued at approximately $133,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in Revvity in the second quarter valued at approximately $25,000. Logan Capital Management Inc. acquired a new position in Revvity during the 4th quarter valued at approximately $37,000. Family Firm Inc. bought a new position in Revvity during the 2nd quarter worth $43,000. Parallel Advisors LLC acquired a new stake in Revvity in the fourth quarter worth $47,000. Finally, EntryPoint Capital LLC bought a new stake in Revvity in the first quarter valued at $48,000. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE:RVTY opened at $122.89 on Friday. The company’s fifty day moving average is $119.06 and its two-hundred day moving average is $110.57. The company has a market cap of $15.16 billion, a P/E ratio of 101.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share (EPS) 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 firm had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same period in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RVTY has been the subject of a number of analyst reports. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Bank of America boosted their price objective on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barclays raised their target price on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Leerink Partners initiated coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, nine have given 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 an average rating of “Moderate Buy” and an average price target of $126.00.

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.