Assenagon Asset Management S.A. Has $2.19 Million Holdings in Revvity, Inc. (NYSE:RVTY)

Assenagon Asset Management S.A. trimmed its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,659 shares of the company's stock after selling 8,291 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Revvity were worth $2,194,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity during the second quarter worth approximately $209,221,000. Southpoint Capital Advisors LP bought a new stake in shares of Revvity in the 3rd quarter valued at approximately $25,550,000. Janus Henderson Group PLC raised its position in shares of 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 acquiring an additional 108,401 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Revvity by 14.6% in the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company's stock valued at $92,736,000 after buying an additional 92,240 shares during the period. Finally, Verition Fund Management LLC grew its holdings in shares of Revvity by 1,002.3% during the third quarter. Verition Fund Management LLC now owns 65,864 shares of the company's stock valued at $8,414,000 after purchasing an additional 59,889 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Trading Up 0.2 %

NYSE:RVTY traded up $0.24 during mid-day trading on Thursday, hitting $123.02. The company had a trading volume of 994,520 shares, compared to its average volume of 813,556. 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, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The firm has a market cap of $14.97 billion, a P/E ratio of 59.43, a P/E/G ratio of 3.68 and a beta of 1.03. The business's fifty day moving average is $115.02 and its two-hundred day moving average is $117.95.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million during the quarter, compared to analysts' expectations of $679.66 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Revvity, Inc. will post 4.84 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity's dividend payout ratio (DPR) is currently 13.53%.

Revvity announced that its Board of Directors has authorized a share repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

RVTY has been the topic of a number of recent research reports. Barclays cut their target price on Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Raymond James decreased their target price on shares of Revvity from $146.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday. Leerink Partners lifted their price target on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Finally, Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and a consensus price target of $132.00.

Insider Activity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Revvity Company 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.