Revvity, Inc. (NYSE:RVTY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Revvity, Inc. (NYSE:RVTY) by 10.4% in the third quarter, Holdings Channel.com reports. The fund owned 5,879 shares of the company’s stock after selling 682 shares during the quarter. Wellington Management Group LLP’s holdings in Revvity were worth $751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wahed Invest LLC raised its position in shares of Revvity by 11.6% in the third quarter. Wahed Invest LLC now owns 2,987 shares of the company’s stock valued at $382,000 after buying an additional 310 shares during the last quarter. State Street Corp raised its holdings in Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Revvity by 62.7% in the 3rd quarter. Quantinno Capital Management LP now owns 43,692 shares of the company’s stock worth $5,582,000 after purchasing an additional 16,834 shares in the last quarter. Investment Management Corp of Ontario boosted its holdings in shares of Revvity by 46.3% during the 3rd quarter. Investment Management Corp of Ontario now owns 4,107 shares of the company’s stock worth $525,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity Price Performance

RVTY opened at $110.54 on Friday. The stock’s 50-day moving average price is $117.36 and its 200 day moving average price is $116.43. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 53.40, a PEG ratio of 3.59 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 earnings per share. As a group, sell-side analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity declared that its board has approved a stock repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is 13.53%.

Analyst Ratings Changes

RVTY has been the topic of a number of recent research reports. Sanford C. Bernstein lowered their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Raymond James boosted their price target on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Friday, December 13th. Finally, Wells Fargo & Company initiated coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.47.

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.