Revvity, Inc. (NYSE:RVTY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Revvity, Inc. (NYSE:RVTY) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,675 shares of the company’s stock after selling 193 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Revvity were worth $595,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RVTY. Czech National Bank lifted its holdings in shares of Revvity by 0.5% in the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after buying an additional 99 shares during the period. TriaGen Wealth Management LLC lifted its holdings in Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after acquiring an additional 107 shares during the period. Guinness Asset Management LTD boosted its position in shares of Revvity by 3.3% during the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after purchasing an additional 116 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after purchasing an additional 117 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Revvity by 3.6% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock valued at $409,000 after purchasing an additional 135 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RVTY has been the topic of a number of research analyst reports. 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 objective on the stock. Leerink Partners started coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 price target on the stock. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Bank of America boosted their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group raised their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

Revvity Price Performance

Revvity stock opened at $117.12 on Friday. The firm’s 50-day moving average is $115.37 and its two-hundred day moving average is $109.33. 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 $14.45 billion, a P/E ratio of 96.79, a P/E/G ratio of 2.91 and a beta of 1.05. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15.

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 firm had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. During the same period in the previous year, the company earned $1.21 EPS. Revvity’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts predict that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 0.24%. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

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.