Forsta AP Fonden Grows Stock Position in Revvity, Inc. (NYSE:RVTY)

Forsta AP Fonden lifted its stake in Revvity, Inc. (NYSE:RVTY) by 11.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 26,300 shares of the company’s stock after buying an additional 2,700 shares during the period. Forsta AP Fonden’s holdings in Revvity were worth $2,762,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in Revvity during the 3rd quarter valued at approximately $1,579,487,000. Capital Research Global Investors bought a new stake in shares of Revvity in the 4th quarter worth approximately $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Revvity in the 4th quarter worth approximately $188,368,000. Norges Bank bought a new stake in shares of Revvity in the 4th quarter worth approximately $129,483,000. Finally, Northern Trust Corp bought a new stake in shares of Revvity in the 4th quarter worth approximately $127,401,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now directly owns 36,900 shares in the company, valued at $4,075,974. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

Revvity Stock Down 0.8 %

Shares of NYSE RVTY traded down $0.91 during midday trading on Monday, reaching $108.61. 104,739 shares of the company’s stock traded hands, compared to its average volume of 856,159. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $107.68 and its 200-day simple moving average is $106.32. Revvity, Inc. has a one year low of $79.50 and a one year high of $131.96. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 90.51, a P/E/G ratio of 2.85 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. Revvity’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. On average, analysts predict that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.26%. Revvity’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Jefferies Financial Group assumed coverage on shares of Revvity in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 target price for the company. TD Cowen boosted their target price on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink started coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.14.

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.