nVerses Capital LLC Takes Position in Revvity, Inc. (NYSE:RVTY)

nVerses Capital LLC bought a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 700 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new stake in Revvity during the 4th quarter worth approximately $3,593,000. BNP Paribas Financial Markets acquired a new stake in Revvity during the 4th quarter worth approximately $12,039,000. Principal Financial Group Inc. acquired a new stake in Revvity during the 4th quarter worth approximately $15,213,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Revvity during the 4th quarter worth approximately $1,160,000. Finally, Commerce Bank acquired a new stake in Revvity during the 4th quarter worth approximately $1,136,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 4,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the sale, the insider now owns 36,900 shares in the company, valued at $4,075,974. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Leerink Partners initiated 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. Barclays boosted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Wells Fargo & Company initiated coverage on shares of Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average price target of $126.00.

Revvity Stock Performance

Shares of RVTY stock opened at $119.74 on Wednesday. The firm has a market capitalization of $14.78 billion, a PE ratio of 98.96, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05. The firm has a fifty day simple moving average of $114.57 and a two-hundred day simple moving average of $109.10. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (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 firm had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Analysts forecast that Revvity, Inc. will post 4.75 EPS 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 0.23%. Revvity’s payout ratio is 23.14%.

Revvity Company 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.