ExodusPoint Capital Management LP Acquires New Position in Revvity, Inc. (NYSE:RVTY)

ExodusPoint Capital Management LP acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 185,784 shares of the company’s stock, valued at approximately $20,735,000. ExodusPoint Capital Management LP owned about 0.15% of Revvity as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Revvity by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock valued at $7,841,000 after buying an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares in the last quarter. FMR LLC raised its stake in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after purchasing an additional 45,040 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Revvity by 87.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company’s stock worth $881,000 after purchasing an additional 3,672 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RVTY shares. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. KeyCorp increased their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Friday, December 13th. Raymond James reiterated an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, Barclays boosted their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Performance

NYSE:RVTY opened at $106.69 on Thursday. 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 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The business has a 50 day moving average of $114.20 and a 200 day moving average of $116.84. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $1.25 earnings per share. On average, sell-side analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

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.