Banco Santander S.A. Cuts Holdings in Revvity, Inc. (NYSE:RVTY)

Banco Santander S.A. trimmed its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 33.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,099 shares of the company's stock after selling 11,102 shares during the quarter. Banco Santander S.A.'s holdings in Revvity were worth $2,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Czech National Bank lifted its position in Revvity by 0.5% during the first quarter. Czech National Bank now owns 21,713 shares of the company's stock valued at $2,280,000 after purchasing an additional 99 shares during the last quarter. TriaGen Wealth Management LLC lifted its holdings in shares of Revvity by 2.3% in the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company's stock valued at $500,000 after acquiring an additional 107 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in shares of Revvity by 3.3% in the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company's stock valued at $376,000 after acquiring an additional 116 shares during the last quarter. Inspire Investing LLC grew its position in 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 acquiring an additional 117 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company's stock worth $409,000 after acquiring an additional 135 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares of the company's stock, valued at $4,075,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Revvity Trading Up 0.7 %

RVTY traded up $0.84 during trading on Thursday, hitting $122.13. 460,690 shares of the stock were exchanged, compared to its average volume of 849,355. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. The firm has a 50 day simple moving average of $113.97 and a 200 day simple moving average of $108.75. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 100.93, a P/E/G ratio of 2.97 and a beta of 1.05. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $128.15.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter last year, the firm posted $1.21 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's payout ratio is presently 23.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RVTY shares. TD Cowen lifted their target price on Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Citigroup lifted their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Bank of America increased their target price on shares of Revvity from $118.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a "hold" rating in a research note on Monday, July 29th. Finally, Barclays increased their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.00.

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.

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