Allspring Global Investments Holdings LLC Increases Stock Position in Revvity, Inc. (NYSE:RVTY)

Allspring Global Investments Holdings LLC lifted its stake in Revvity, Inc. (NYSE:RVTY) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 5,921 shares of the company’s stock after purchasing an additional 246 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Revvity were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. First Citizens Bank & Trust Co. bought a new stake in Revvity in the 3rd quarter worth approximately $231,000. Blue Trust Inc. boosted its stake in shares of Revvity by 43.7% in the 3rd quarter. Blue Trust Inc. now owns 1,615 shares of the company’s stock worth $206,000 after buying an additional 491 shares during the last quarter. Net Worth Advisory Group bought a new stake in shares of Revvity in the third quarter worth $357,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Revvity by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,843 shares of the company’s stock valued at $1,641,000 after acquiring an additional 202 shares during the last quarter. Finally, Drake & Associates LLC lifted its holdings in Revvity by 13.2% in the third quarter. Drake & Associates LLC now owns 4,976 shares of the company’s stock valued at $636,000 after acquiring an additional 580 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 $3,936,524. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on 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 in the company, valued at $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,807 shares of company stock valued at $937,576. Insiders own 0.60% of the company’s stock.

Revvity Stock Down 1.2 %

Shares of RVTY opened at $118.55 on Friday. The business’s 50 day moving average is $121.39 and its 200 day moving average is $113.79. 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 $80.97 and a 12-month high of $128.15. The company has a market capitalization of $14.62 billion, a PE ratio of 85.91, a price-to-earnings-growth ratio of 3.27 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter last year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. Revvity’s dividend payout ratio is currently 20.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RVTY. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Bank of America upped their price objective on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.79.

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.