Assenagon Asset Management S.A. Sells 8,291 Shares of Revvity, Inc. (NYSE:RVTY)

Assenagon Asset Management S.A. lessened its stake in Revvity, Inc. (NYSE:RVTY) by 29.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,659 shares of the company’s stock after selling 8,291 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Revvity were worth $2,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RVTY. Canada Pension Plan Investment Board increased its holdings in Revvity by 46.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock worth $1,403,000 after purchasing an additional 4,246 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Revvity by 20.2% during the second quarter. AE Wealth Management LLC now owns 12,255 shares of the company’s stock worth $1,285,000 after buying an additional 2,061 shares in the last quarter. Pacer Advisors Inc. raised its position in Revvity by 37.4% in the 2nd quarter. Pacer Advisors Inc. now owns 11,720 shares of the company’s stock valued at $1,229,000 after buying an additional 3,192 shares during the last quarter. Sei Investments Co. lifted its stake in Revvity by 6.2% in the 2nd quarter. Sei Investments Co. now owns 23,996 shares of the company’s stock valued at $2,516,000 after acquiring an additional 1,411 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Revvity by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 17,956 shares of the company’s stock worth $1,883,000 after acquiring an additional 1,295 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Down 1.0 %

RVTY stock opened at $122.76 on Thursday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $114.96 and its 200 day simple moving average is $117.91. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The firm has a market capitalization of $14.94 billion, a PE ratio of 59.31, a PEG ratio of 3.50 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS. As a group, research analysts anticipate that Revvity, Inc. will post 4.84 EPS for the current year.

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

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RVTY has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen raised their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James lowered their target price on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and an average target price of $132.00.

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.