Revvity, Inc. (NYSE:RVTY) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Revvity, Inc. (NYSE:RVTY) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 933,305 shares of the company’s stock after selling 33,440 shares during the quarter. Primecap Management Co. CA owned about 0.76% of Revvity worth $119,230,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RVTY. Sei Investments Co. boosted its stake in shares of Revvity by 12.5% in the first quarter. Sei Investments Co. now owns 22,585 shares of the company’s stock valued at $2,372,000 after purchasing an additional 2,506 shares during the period. Covestor Ltd boosted its position in Revvity by 55.9% in the 1st quarter. Covestor Ltd now owns 477 shares of the company’s stock valued at $50,000 after buying an additional 171 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Revvity by 2.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 71,327 shares of the company’s stock valued at $7,489,000 after acquiring an additional 1,640 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Revvity during the first quarter worth about $236,000. Finally, EntryPoint Capital LLC purchased a new position in Revvity in the first quarter valued at about $48,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Down 0.2 %

Revvity stock opened at $111.11 on Friday. The firm has a market capitalization of $13.52 billion, a P/E ratio of 53.68, a P/E/G ratio of 2.74 and a beta of 1.05. The company has a 50-day simple moving average of $120.91 and a 200-day simple moving average of $115.53. 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.

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 return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

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

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RVTY shares. JPMorgan Chase & Co. upped their target price on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen increased their price objective 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. Raymond James boosted their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.07.

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.