Impax Asset Management Group plc Decreases Stake in Revvity, Inc. (NYSE:RVTY)

Impax Asset Management Group plc lessened its stake in Revvity, Inc. (NYSE:RVTY) by 16.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 52,993 shares of the company’s stock after selling 10,233 shares during the quarter. Impax Asset Management Group plc’s holdings in Revvity were worth $6,770,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EdgePoint Investment Group Inc. purchased a new stake in Revvity during the second quarter worth approximately $209,221,000. Jane Street Group LLC lifted its stake in Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Revvity by 18.5% during 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 last quarter. Janus Henderson Group PLC lifted its stake in Revvity by 3.9% during the first 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 lifted its stake in Revvity by 441.3% during the first 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. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the company’s 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 completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Wells Fargo & Company assumed coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James boosted their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Up 0.9 %

Revvity stock opened at $125.96 on Wednesday. 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 capitalization of $15.54 billion, a price-to-earnings ratio of 91.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05. Revvity, Inc. has a fifty-two week low of $82.17 and a fifty-two week high of $128.83. The stock’s fifty day moving average is $121.53 and its two-hundred day moving average is $114.47.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Analysts predict 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 allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

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

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.