Revvity, Inc. (NYSE:RVTY) Stake Boosted by TD Asset Management Inc

TD Asset Management Inc increased its stake in Revvity, Inc. (NYSE:RVTY) by 139.1% during the second quarter, HoldingsChannel reports. The firm owned 100,927 shares of the company’s stock after acquiring an additional 58,719 shares during the period. TD Asset Management Inc’s holdings in Revvity were worth $10,583,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Revvity during the 2nd quarter worth about $25,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Revvity during the 4th quarter worth about $27,000. Logan Capital Management Inc. acquired a new stake in Revvity during the 4th quarter worth about $37,000. Family Firm Inc. acquired a new stake in Revvity during the 2nd quarter worth about $43,000. Finally, Parallel Advisors LLC acquired a new stake in Revvity during the 4th quarter worth about $47,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,936,524. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

Revvity Stock Up 2.9 %

RVTY opened at $118.76 on Tuesday. The business has a 50 day moving average price of $115.89 and a 200 day moving average price of $109.62. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The firm has a market cap of $14.65 billion, a P/E ratio of 98.15, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. During the same period in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts forecast that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s dividend payout ratio is 23.14%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVTY. Leerink Partners began coverage on Revvity in a research report on Monday, July 8th. They set an “outperform” rating and a $125.00 price objective for the company. Wells Fargo & Company assumed 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. Barclays lifted their price target on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average target price of $126.00.

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.