Argent Trust Co Boosts Stock Position in Revvity, Inc. (NYSE:RVTY)

Argent Trust Co grew its holdings in Revvity, Inc. (NYSE:RVTY) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,472 shares of the company’s stock after purchasing an additional 738 shares during the period. Argent Trust Co’s holdings in Revvity were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Private Advisor Group LLC purchased a new position in Revvity in the 4th quarter worth about $249,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Revvity during the fourth quarter worth approximately $330,000. Principal Financial Group Inc. bought a new stake in shares of Revvity during the fourth quarter valued at approximately $15,213,000. Janney Montgomery Scott LLC purchased a new stake in shares of Revvity in the fourth quarter valued at approximately $500,000. Finally, Quadrant Capital Group LLC bought a new position in Revvity in the fourth quarter worth approximately $50,000. 86.65% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $412,510.00. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Revvity Stock Up 1.6 %

NYSE:RVTY opened at $126.57 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. The company’s fifty day moving average price is $118.79 and its 200-day moving average price is $110.47. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $128.15. The firm has a market capitalization of $15.62 billion, a P/E ratio of 104.60, a PEG ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.22 EPS 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 analysts’ expectations of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s payout ratio is currently 23.14%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Leerink Partners initiated coverage on shares of Revvity in a report on Monday, July 8th. They set an “outperform” rating and a $125.00 target price on the stock. Citigroup raised their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company assumed 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 for the company. Finally, Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

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.