BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 8,940 Shares of Revvity, Inc. (NYSE:RVTY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Revvity, Inc. (NYSE:RVTY) by 60.7% during the second quarter, HoldingsChannel reports. The firm owned 23,657 shares of the company’s stock after purchasing an additional 8,940 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Revvity were worth $2,481,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Czech National Bank boosted its holdings in Revvity by 0.5% in the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after purchasing an additional 99 shares during the period. Garrison Asset Management LLC raised its position in shares of Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after buying an additional 103 shares during the last quarter. TriaGen Wealth Management LLC raised its position in shares of Revvity by 2.3% during the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares during the last quarter. Guinness Asset Management LTD lifted its stake in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after buying an additional 116 shares during the period. Finally, Inspire Investing LLC grew its position in Revvity by 2.9% during the first quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Leerink Partnrs raised Revvity to a “strong-buy” rating in a report on Monday, July 8th. TD Cowen upped their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Barclays lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup increased 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. Finally, Leerink Partners assumed coverage on shares of Revvity in a research report on Monday, July 8th. They set an “outperform” rating and a $125.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.53.

Revvity Stock Down 0.2 %

Shares of NYSE RVTY opened at $126.06 on Friday. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15. The firm’s 50-day simple moving average is $120.44 and its 200 day simple moving average is $111.13. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 104.18, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05.

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

Revvity Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is currently 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.