Simplify Asset Management Inc. Has $3.11 Million Position in Revvity, Inc. (NYSE:RVTY)

Simplify Asset Management Inc. reduced its holdings in Revvity, Inc. (NYSE:RVTY) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,303 shares of the company’s stock after selling 1,469 shares during the period. Simplify Asset Management Inc.’s holdings in Revvity were worth $3,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. acquired a new position in shares of Revvity during the 2nd quarter worth about $209,221,000. Jane Street Group LLC increased its stake in shares of Revvity by 516.4% during the 1st 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. Janus Henderson Group PLC increased its stake in shares of Revvity by 3.9% during the 1st 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. Magnetar Financial LLC grew its stake in Revvity by 441.3% in the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock valued at $14,319,000 after buying an additional 111,178 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Revvity by 3,171.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after buying an additional 84,515 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of Revvity stock traded down $3.16 on Friday, reaching $112.89. 199,301 shares of the stock were exchanged, compared to its average volume of 827,375. The firm’s 50 day moving average is $121.65 and its 200-day moving average is $115.22. Revvity, Inc. has a one year low of $86.30 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The firm has a market cap of $13.74 billion, a PE ratio of 56.06, a P/E/G ratio of 2.99 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 EPS. As a group, analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity declared that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is 13.53%.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RVTY shares. TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Leerink Partners upped their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein decreased their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Citigroup boosted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.07.

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.