Impax Asset Management Group plc Sells 10,233 Shares of Revvity, Inc. (NYSE:RVTY)

Impax Asset Management Group plc trimmed its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 16.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,993 shares of the company's stock after selling 10,233 shares during the period. Impax Asset Management Group plc's holdings in Revvity were worth $6,770,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its position in shares of Revvity by 8.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,258 shares of the company's stock worth $342,000 after acquiring an additional 240 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Revvity in the first quarter worth $214,000. Sei Investments Co. grew its holdings in shares of Revvity by 12.5% during the first quarter. Sei Investments Co. now owns 22,585 shares of the company's stock valued at $2,372,000 after buying an additional 2,506 shares in the last quarter. Headlands Technologies LLC acquired a new position in Revvity during the first quarter valued at $56,000. Finally, Russell Investments Group Ltd. boosted its position in Revvity by 1.5% during the 1st quarter. Russell Investments Group Ltd. now owns 95,263 shares of the company's stock worth $10,010,000 after acquiring an additional 1,363 shares during the period. Institutional investors own 86.65% of the company's stock.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the business's stock in a transaction that occurred on 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 $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RVTY. Robert W. Baird increased their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Bank of America upped 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. Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. TD Cowen upped their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on Revvity in a report on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price target for the company. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Revvity has an average rating of "Moderate Buy" and a consensus price target of $132.07.

Revvity Price Performance

Shares of NYSE:RVTY traded down $6.53 during midday trading on Friday, reaching $109.52. 1,817,426 shares of the company's stock were exchanged, compared to its average volume of 834,663. Revvity, Inc. has a 12 month low of $86.30 and a 12 month high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The firm has a market capitalization of $13.33 billion, a PE ratio of 52.91, a price-to-earnings-growth ratio of 2.99 and a beta of 1.05. The company's 50 day simple moving average is $121.52 and its two-hundred day simple moving average is $115.26.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to analysts' expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Equities research analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid 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 0.26%. Revvity's dividend payout ratio is presently 13.53%.

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.