Sei Investments Co. Buys 1,411 Shares of Revvity, Inc. (NYSE:RVTY)

Sei Investments Co. grew its stake in Revvity, Inc. (NYSE:RVTY) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,996 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. Sei Investments Co.’s holdings in Revvity were worth $2,516,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Revvity in the second quarter valued at about $25,000. Logan Capital Management Inc. purchased a new stake in shares of Revvity during the fourth quarter valued at approximately $37,000. Family Firm Inc. bought a new stake in Revvity during the second quarter worth $43,000. Fairfield Financial Advisors LTD purchased a new position in Revvity in the second quarter worth $43,000. Finally, Parallel Advisors LLC purchased a new position in Revvity in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the subject of several research analyst reports. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Leerink Partners began coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.53.

Revvity Stock Down 0.1 %

RVTY opened at $123.96 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The firm has a market capitalization of $15.30 billion, a P/E ratio of 102.45, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The company has a fifty day moving average price of $121.74 and a 200-day moving average price of $111.79.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million for 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 company’s quarterly 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 EPS. Equities research analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current fiscal 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 given a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s payout ratio is presently 23.14%.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

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.