Coronation Fund Managers Ltd. Has $12.56 Million Stake in Revvity, Inc. (NYSE:RVTY)

Coronation Fund Managers Ltd. lowered its position in shares of Revvity, Inc. (NYSE:RVTY) by 52.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,793 shares of the company’s stock after selling 133,929 shares during the quarter. Coronation Fund Managers Ltd. owned about 0.10% of Revvity worth $12,561,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RVTY. Northwestern Mutual Wealth Management Co. boosted its position in shares of Revvity by 165.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,463 shares of the company’s stock valued at $468,000 after purchasing an additional 2,781 shares in the last quarter. Creative Planning grew its position in shares of Revvity by 7.3% during the 2nd quarter. Creative Planning now owns 19,857 shares of the company’s stock worth $2,082,000 after buying an additional 1,359 shares during the period. Scientech Research LLC increased its stake in shares of Revvity by 139.7% in the 2nd quarter. Scientech Research LLC now owns 6,344 shares of the company’s stock valued at $665,000 after acquiring an additional 3,697 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Revvity by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 12,179 shares of the company’s stock valued at $1,277,000 after acquiring an additional 410 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Revvity by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 551,880 shares of the company’s stock valued at $57,870,000 after acquiring an additional 29,204 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Revvity

In other 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 directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RVTY shares. Citigroup upped their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a 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. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Wells Fargo & Company initiated coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Leerink Partners assumed coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price on the stock. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.53.

Revvity Stock Down 2.6 %

Shares of NYSE RVTY opened at $124.44 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The stock has a market capitalization of $15.36 billion, a PE ratio of 102.84, a P/E/G ratio of 2.90 and a beta of 1.05. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The business’s fifty day moving average price is $121.07 and its 200-day moving average price is $111.47.

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

Revvity Dividend Announcement

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

About Revvity

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.