Impax Asset Management Group plc Has $1.52 Million Stake in Revvity, Inc. (NYSE:RVTY)

Impax Asset Management Group plc lessened its position in Revvity, Inc. (NYSE:RVTY) by 74.4% in the 4th quarter, Holdings Channel reports. The firm owned 13,586 shares of the company’s stock after selling 39,407 shares during the period. Impax Asset Management Group plc’s holdings in Revvity were worth $1,516,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. State Street Corp increased its stake in Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after purchasing an additional 17,832 shares in the last quarter. Geode Capital Management LLC increased its stake in Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares in the last quarter. Finally, RGM Capital LLC increased its stake in Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RVTY. TD Cowen increased their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays increased their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Up 0.7 %

Shares of RVTY stock opened at $115.71 on Wednesday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The firm’s fifty day moving average price is $116.77 and its two-hundred day moving average price is $118.59. The firm has a market capitalization of $14.08 billion, a P/E ratio of 52.36, a PEG ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period last year, the company posted $1.25 EPS. On average, equities analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in 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 board believes its stock is undervalued.

Insider Activity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.