Victory Capital Management Inc. Sells 1,898 Shares of Revvity, Inc. (NYSE:RVTY)

Victory Capital Management Inc. cut its holdings in Revvity, Inc. (NYSE:RVTY) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,278 shares of the company’s stock after selling 1,898 shares during the period. Victory Capital Management Inc.’s holdings in Revvity were worth $6,006,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RVTY. Czech National Bank grew its position in shares of Revvity by 0.5% in the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after purchasing an additional 99 shares in the last quarter. TriaGen Wealth Management LLC increased its position in shares of Revvity by 2.3% during the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares during the period. Guinness Asset Management LTD lifted its holdings in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after buying an additional 116 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Revvity by 2.9% in the first quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after acquiring an additional 117 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock valued at $409,000 after acquiring an additional 135 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Leerink Partners began coverage on shares of Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays lifted their price target on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen upped their price objective on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and an average price target of $126.00.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Revvity Stock Performance

Revvity stock opened at $122.03 on Monday. The firm has a fifty day simple moving average of $117.37 and a two-hundred day simple moving average of $110.06. 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 $79.50 and a twelve month high of $128.15. The company has a market capitalization of $15.06 billion, a PE ratio of 100.85, a P/E/G ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the previous year, the company posted $1.21 EPS. Revvity’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

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 issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, October 18th. Revvity’s dividend payout ratio is 23.14%.

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.