Simplify Asset Management Inc. Has $2.70 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Simplify Asset Management Inc. lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 0.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 25,772 shares of the company’s stock after selling 147 shares during the quarter. Simplify Asset Management Inc.’s holdings in Revvity were worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its holdings in shares of Revvity by 46.5% in the second quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock valued at $1,403,000 after purchasing an additional 4,246 shares during the last quarter. XTX Topco Ltd acquired a new position in Revvity in the 2nd quarter valued at about $1,352,000. First Eagle Investment Management LLC raised its holdings in Revvity by 8.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,565 shares of the company’s stock valued at $269,000 after acquiring an additional 200 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Revvity by 21.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,078 shares of the company’s stock worth $1,353,000 after acquiring an additional 2,337 shares during the last quarter. Finally, Argent Trust Co boosted its holdings in shares of Revvity by 12.9% during the second quarter. Argent Trust Co now owns 6,472 shares of the company’s stock worth $679,000 after acquiring an additional 738 shares during the period. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

RVTY stock opened at $126.57 on Friday. The company 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. The company has a fifty day moving average price of $118.79 and a 200-day moving average price of $110.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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 the consensus estimate of $690.33 million. During the same quarter last year, the firm posted $1.21 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

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 of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio is presently 23.14%.

Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RVTY. Leerink Partnrs raised Revvity to a “strong-buy” rating in a report on Monday, July 8th. Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock. Finally, TD Cowen raised their price objective on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.00.

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.