Simon Quick Advisors LLC Sells 919 Shares of Revvity, Inc. (NYSE:RVTY)

Simon Quick Advisors LLC decreased its holdings in Revvity, Inc. (NYSE:RVTY) by 24.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829 shares of the company’s stock after selling 919 shares during the period. Simon Quick Advisors LLC’s holdings in Revvity were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in Revvity by 1.7% during the 3rd 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 during the last quarter. State Street Corp grew its stake in shares of Revvity by 0.3% during the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after buying an additional 17,832 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after buying an additional 25,078 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after acquiring an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC boosted its holdings in Revvity by 3.2% during the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after acquiring an additional 30,000 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Raymond James dropped their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday. Leerink Partners lifted 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. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Five equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Revvity Price Performance

Shares of RVTY stock opened at $123.02 on Friday. The stock’s 50-day moving average is $115.02 and its 200 day moving average is $117.95. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The company has a market cap of $14.97 billion, a P/E ratio of 59.43, a PEG ratio of 3.68 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period last year, the business earned $1.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Revvity, Inc. will post 4.84 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity’s dividend payout ratio is presently 13.53%.

Revvity declared that its board has initiated a share buyback program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s 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 transaction, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity Profile

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.