Envestnet Asset Management Inc. Lowers Holdings in Revvity, Inc. (NYSE:RVTY)

Envestnet Asset Management Inc. decreased its position in Revvity, Inc. (NYSE:RVTY) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,613 shares of the company’s stock after selling 2,275 shares during the period. Envestnet Asset Management Inc.’s holdings in Revvity were worth $4,049,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors purchased a new position in shares of Revvity during the fourth quarter valued at approximately $838,080,000. Northern Trust Corp bought a new stake in Revvity during the 4th quarter worth approximately $127,401,000. The Manufacturers Life Insurance Company purchased a new position in shares of Revvity during the 4th quarter valued at $69,796,000. Goldman Sachs Group Inc. bought a new position in shares of Revvity in the fourth quarter worth about $45,453,000. Finally, Jane Street Group LLC lifted its holdings in Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity 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 transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $125.08 on Thursday. The company has a market cap of $15.43 billion, a P/E ratio of 103.37, a PEG ratio of 2.90 and a beta of 1.05. The stock has a fifty day moving average price of $121.34 and a 200 day moving average price of $111.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen raised 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. Wells Fargo & Company started coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Finally, Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.53.

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.