Hsbc Holdings PLC Cuts Position in Revvity, Inc. (NYSE:RVTY)

Hsbc Holdings PLC reduced its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 18.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,733 shares of the company’s stock after selling 40,523 shares during the quarter. Hsbc Holdings PLC’s holdings in Revvity were worth $18,941,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RVTY. Rothschild Investment LLC purchased a new stake in Revvity during the 2nd quarter worth $25,000. Logan Capital Management Inc. acquired a new position in shares of Revvity during the fourth quarter worth about $37,000. Family Firm Inc. purchased a new stake in shares of Revvity in the second quarter worth about $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Revvity during the 2nd quarter valued at about $43,000. Finally, Parallel Advisors LLC acquired a new position in Revvity during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Barclays boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Wells Fargo & Company began coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Leerink Partners started coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.00.

Revvity Trading Down 2.8 %

NYSE RVTY opened at $122.89 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The company has a 50-day simple moving average of $119.06 and a 200-day simple moving average of $110.62. The firm has a market capitalization of $15.16 billion, a PE ratio of 101.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05.

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

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s payout ratio is 23.14%.

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.