Panagora Asset Management Inc. Has $531,000 Stake in Revvity, Inc. (NYSE:RVTY)

Panagora Asset Management Inc. lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 63.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,067 shares of the company's stock after selling 8,737 shares during the quarter. Panagora Asset Management Inc.'s holdings in Revvity were worth $531,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new position in Revvity during the fourth quarter valued at approximately $27,000. Logan Capital Management Inc. purchased a new position in shares of Revvity during the 4th quarter valued at $37,000. Family Firm Inc. acquired a new position in shares of Revvity in the second quarter worth $43,000. Gladius Capital Management LP raised its holdings in shares of Revvity by 85.3% during the fourth quarter. Gladius Capital Management LP now owns 430 shares of the company's stock worth $47,000 after acquiring an additional 198 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Revvity during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Activity

In other news, insider Joel S. Goldberg sold 4,000 shares of the firm's stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company's stock, valued at approximately $4,075,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joel S. Goldberg sold 4,000 shares of the firm's stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares in the company, valued at approximately $4,075,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $412,510.00. Following the sale, the insider now directly owns 33,400 shares of the company's stock, valued at $3,936,524. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company initiated coverage on Revvity in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Barclays boosted their target price 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. Bank of America increased their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Eight 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.00.

Revvity Price Performance

Revvity stock traded down $2.11 on Wednesday, reaching $117.63. The company's stock had a trading volume of 621,854 shares, compared to its average volume of 845,854. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 98.64, a PEG ratio of 2.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The business's fifty day moving average price is $114.87 and its 200 day moving average price is $109.22.

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

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity's payout ratio is currently 23.14%.

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.