Coronation Fund Managers Ltd. Trims Stock Position in Revvity, Inc. (NYSE:RVTY)

Coronation Fund Managers Ltd. reduced its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 22.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,760 shares of the company's stock after selling 27,033 shares during the quarter. Coronation Fund Managers Ltd. owned 0.08% of Revvity worth $11,850,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. purchased a new position in Revvity during the second quarter valued at approximately $209,221,000. Jane Street Group LLC raised its position in Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company's stock valued at $47,601,000 after acquiring an additional 379,802 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company's stock valued at $223,258,000 after acquiring an additional 332,632 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Revvity by 3.9% in the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company's stock valued at $594,769,000 after purchasing an additional 210,100 shares during the period. Finally, Magnetar Financial LLC grew its holdings in Revvity by 441.3% in the first quarter. Magnetar Financial LLC now owns 136,371 shares of the company's stock valued at $14,319,000 after purchasing an additional 111,178 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RVTY. Wells Fargo & Company began coverage on Revvity in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 price objective on the stock. Leerink Partnrs raised Revvity to a "strong-buy" rating in a research note on Monday, July 8th. TD Cowen lifted their price target on Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Barclays raised Revvity from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price target on Revvity from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $128.79.

Revvity Trading Up 2.1 %

Shares of RVTY stock traded up $2.45 on Friday, hitting $121.04. The stock had a trading volume of 1,474,334 shares, compared to its average volume of 685,839. 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 firm has a market capitalization of $14.93 billion, a P/E ratio of 87.71, a P/E/G ratio of 3.27 and a beta of 1.06. Revvity, Inc. has a 1 year low of $82.17 and a 1 year high of $128.15. The company's 50 day moving average price is $121.39 and its 200-day moving average price is $114.11.

Revvity Announces Dividend

The company 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 $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's dividend payout ratio is presently 20.29%.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the business's 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 of the company's stock, valued at $3,936,524. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Joel S. Goldberg sold 3,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tajinder S. Vohra sold 2,154 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,807 shares of company stock worth $937,576. 0.60% of the stock is currently owned by company insiders.

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.