Jane Street Group LLC Sells 164,156 Shares of Revvity, Inc. (NYSE:RVTY)

Jane Street Group LLC lessened its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 80.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 40,629 shares of the company's stock after selling 164,156 shares during the period. Jane Street Group LLC's holdings in Revvity were worth $5,190,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Empirical Finance LLC boosted its position in shares of Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company's stock valued at $541,000 after buying an additional 85 shares during the last quarter. CX Institutional boosted its position in Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company's stock worth $1,020,000 after purchasing an additional 86 shares during the last quarter. Garrison Asset Management LLC raised its stake in shares of Revvity by 0.5% in the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company's stock valued at $2,236,000 after buying an additional 103 shares during the period. NorthCrest Asset Manangement LLC raised its stake in shares of Revvity by 2.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 7,398 shares of the company's stock valued at $945,000 after buying an additional 154 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Revvity by 1.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,641 shares of the company's stock valued at $1,326,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on RVTY. Leerink Partners boosted their target price on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on Revvity in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price objective on the stock. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Friday. Finally, Barclays decreased their price objective on Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.47.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Revvity Trading Down 0.4 %

RVTY traded down $0.42 on Tuesday, hitting $114.75. 743,393 shares of the company were exchanged, compared to its average volume of 843,974. The firm has a fifty day simple moving average of $117.95 and a two-hundred day simple moving average of $116.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The stock has a market capitalization of $13.97 billion, a PE ratio of 55.64, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

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

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity's dividend payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has initiated a share buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

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.