Revvity, Inc. (NYSE:RVTY) Insider Sells $262,859.77 in Stock

Revvity, Inc. (NYSE:RVTY) insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Revvity Stock Performance

Shares of NYSE RVTY traded down $0.51 during mid-day trading on Wednesday, hitting $121.52. 391,427 shares of the company were exchanged, compared to its average volume of 820,932. The stock has a 50 day simple moving average of $121.58 and a 200-day simple moving average of $112.15. Revvity, Inc. has a 1-year low of $79.50 and a 1-year 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. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 100.26, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter last year, the business earned $1.21 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm 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. 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 dividend payout ratio is presently 23.14%.

Institutional Trading of Revvity

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. purchased a new position in Revvity in the second quarter valued at about $209,221,000. Northern Trust Corp acquired a new stake in Revvity in the fourth quarter valued at $127,401,000. Goldman Sachs Group Inc. purchased a new position in shares of Revvity in the fourth quarter valued at $45,453,000. Jane Street Group LLC raised its stake in shares of Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after buying an additional 332,632 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several research analyst reports. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price on the stock. Citigroup raised their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Bank of America lifted their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barclays upped their price objective on shares of Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Eight equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.53.

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.