Mn Services Vermogensbeheer B.V. Sells 1,200 Shares of Revvity, Inc. (NYSE:RVTY)

Mn Services Vermogensbeheer B.V. trimmed its holdings in Revvity, Inc. (NYSE:RVTY) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,500 shares of the company’s stock after selling 1,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Revvity were worth $6,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. bought a new position in Revvity in the 2nd quarter valued at $209,221,000. Jane Street Group LLC boosted its holdings in Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after acquiring an additional 379,802 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Revvity by 18.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after purchasing an additional 332,632 shares during the period. Janus Henderson Group PLC raised its holdings in Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after purchasing an additional 210,100 shares during the last quarter. Finally, Magnetar Financial LLC raised its holdings in Revvity by 441.3% during the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after purchasing an additional 111,178 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. 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 at the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RVTY shares. 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 report on Monday, July 29th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $125.00 to $140.00 in a research report on Tuesday, October 15th. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Leerink Partners upped their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday. Seven investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Revvity Stock Down 0.9 %

Revvity stock opened at $124.86 on Thursday. The company has a 50 day moving average of $121.60 and a 200-day moving average of $114.54. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a twelve month low of $82.17 and a twelve month high of $129.50. The stock has a market capitalization of $15.40 billion, a PE ratio of 90.48, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. On average, equities research analysts anticipate that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity declared that its board has authorized a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is 20.29%.

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.