Primecap Management Co. CA Has $101.37 Million Stake in Revvity, Inc. (NYSE:RVTY)

Primecap Management Co. CA trimmed its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 966,745 shares of the company's stock after selling 20,200 shares during the period. Primecap Management Co. CA owned about 0.78% of Revvity worth $101,373,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Revvity in the second quarter valued at approximately $25,000. Logan Capital Management Inc. acquired a new stake in Revvity in the 4th quarter valued at $37,000. Family Firm Inc. bought a new stake in Revvity during the 2nd quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the 2nd quarter worth about $43,000. Finally, Parallel Advisors LLC acquired a new position in shares of Revvity during the 4th quarter worth about $47,000. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RVTY. Jefferies Financial Group lifted their target price on Revvity from $115.00 to $125.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Citigroup upped their price objective on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Leerink Partnrs raised Revvity to a "strong-buy" rating in a report on Monday, July 8th. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.00.

Revvity Price Performance

Shares of Revvity stock traded up $1.88 on Wednesday, reaching $124.59. 919,700 shares of the stock were exchanged, compared to its average volume of 836,349. The firm's 50 day moving average is $118.46 and its 200-day moving average is $110.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The firm has a market cap of $15.37 billion, a PE ratio of 102.97, a P/E/G ratio of 2.87 and a beta of 1.05.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity's dividend payout ratio (DPR) is currently 23.14%.

Insider Activity

In related news, insider Joel S. Goldberg sold 3,500 shares of the 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 completion of the sale, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

About Revvity

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.