Impax Asset Management Group plc Sells 10,233 Shares of Revvity, Inc. (NYSE:RVTY)

Impax Asset Management Group plc cut its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,993 shares of the company's stock after selling 10,233 shares during the quarter. Impax Asset Management Group plc's holdings in Revvity were worth $6,770,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CX Institutional grew its holdings in Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company's stock valued at $1,020,000 after buying an additional 86 shares in the last quarter. Garrison Asset Management LLC increased its position in shares of Revvity by 0.5% in the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company's stock worth $2,236,000 after purchasing an additional 103 shares during the period. TriaGen Wealth Management LLC increased its position in shares of Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company's stock worth $500,000 after purchasing an additional 107 shares during the period. Guinness Asset Management LTD increased its position in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company's stock worth $376,000 after purchasing an additional 116 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Revvity by 2.9% in the first quarter. Inspire Investing LLC now owns 4,190 shares of the company's stock worth $440,000 after purchasing an additional 117 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Tajinder S. Vohra sold 2,153 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

Revvity Trading Down 0.9 %

RVTY stock traded down $1.10 during mid-day trading on Wednesday, reaching $124.86. The company's stock had a trading volume of 1,441,848 shares, compared to its average volume of 828,478. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 91.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05. The business's 50 day moving average price is $121.53 and its 200 day moving average price is $114.47. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $82.17 and a 12 month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, equities research analysts predict that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity declared that its Board of Directors has approved a share 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 reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Revvity Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity's dividend payout ratio is 20.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RVTY shares. Sanford C. Bernstein decreased their price target on Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Tuesday. Wells Fargo & Company assumed coverage on Revvity in a research note on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Leerink Partners raised their price objective on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Barclays raised Revvity from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.07.

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.