Assenagon Asset Management S.A. Trims Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Assenagon Asset Management S.A. lowered its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 67.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,950 shares of the company's stock after selling 59,230 shares during the period. Assenagon Asset Management S.A.'s holdings in Revvity were worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company's stock worth $594,769,000 after acquiring an additional 210,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Revvity by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company's stock worth $223,258,000 after acquiring an additional 332,632 shares in the last quarter. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity during the 2nd quarter worth about $209,221,000. Dimensional Fund Advisors LP raised its position in shares of Revvity by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company's stock worth $120,506,000 after acquiring an additional 57,656 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its position in shares of Revvity by 2.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company's stock worth $114,815,000 after acquiring an additional 23,318 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Stock Performance

Shares of NYSE:RVTY traded down $1.48 during trading on Thursday, reaching $118.55. The company had a trading volume of 946,462 shares, compared to its average volume of 814,984. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 85.91, a price-to-earnings-growth ratio of 3.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The stock's fifty day moving average price is $121.39 and its 200 day moving average price is $113.79. Revvity, Inc. has a fifty-two week low of $80.97 and a fifty-two week high of $128.15.

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

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity's dividend payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RVTY. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Barclays upgraded Revvity from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price target on the stock. Citigroup lifted their price target on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their price target on Revvity from $115.00 to $125.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Revvity presently has an average rating of "Moderate Buy" and a consensus target price of $127.20.

Insider Buying and Selling

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 transaction, the insider now owns 23,960 shares of the company's stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Revvity news, 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 transaction of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,807 shares of company stock valued at $937,576 over the last quarter. Company 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.