Revvity, Inc. (NYSE:RVTY) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in Revvity, Inc. (NYSE:RVTY) by 16.6% during the 4th quarter, Holdings Channel reports. The fund owned 9,722 shares of the company’s stock after selling 1,942 shares during the period. Pacer Advisors Inc.’s holdings in Revvity were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. grew its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the period. Southpoint Capital Advisors LP acquired a new position in Revvity in the 3rd quarter worth about $25,550,000. Janus Henderson Group PLC boosted its position in Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares in the last quarter. Holocene Advisors LP grew its holdings in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after purchasing an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. increased its position in shares of Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after buying an additional 65,376 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Trading Down 0.6 %

Shares of Revvity stock opened at $126.13 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The stock’s 50 day simple moving average is $116.88 and its 200-day simple moving average is $118.76. The stock has a market cap of $15.35 billion, a P/E ratio of 60.93, a P/E/G ratio of 4.09 and a beta of 1.03. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.42% and a net margin of 9.34%. During the same period in the previous year, the company posted $1.25 earnings per share. Analysts predict that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is currently 13.53%.

Revvity announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on RVTY. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Robert W. Baird lifted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners upped their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays decreased their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

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.