Revvity, Inc. (NYSE:RVTY) Shares Sold by Independent Franchise Partners LLP

Independent Franchise Partners LLP lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 43.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,067,353 shares of the company’s stock after selling 813,672 shares during the quarter. Revvity accounts for approximately 1.0% of Independent Franchise Partners LLP’s holdings, making the stock its 21st largest holding. Independent Franchise Partners LLP’s holdings in Revvity were worth $111,923,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Czech National Bank increased its stake in Revvity by 0.5% during the 1st 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. Garrison Asset Management LLC increased its position in shares of Revvity by 0.5% in the 2nd quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after acquiring an additional 103 shares during the period. TriaGen Wealth Management LLC raised its stake in Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after acquiring an additional 107 shares during the last quarter. Guinness Asset Management LTD raised its stake in Revvity by 3.3% in the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after acquiring an additional 116 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Citigroup raised their price target on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Leerink Partners initiated coverage on shares of Revvity in a report on Monday, July 8th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Eight investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity 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 sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Revvity Price Performance

Shares of NYSE RVTY opened at $122.89 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The firm has a market cap of $15.16 billion, a PE ratio of 101.56, a PEG ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The firm has a fifty day moving average of $119.06 and a 200 day moving average of $110.60.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts predict that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is presently 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.