Primecap Management Co. CA Has $101.37 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Primecap Management Co. CA reduced its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 966,745 shares of the company’s stock after selling 20,200 shares during the quarter. Primecap Management Co. CA owned about 0.78% of Revvity worth $101,373,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors acquired a new position in shares of Revvity during the 4th quarter worth about $838,080,000. Janus Henderson Group PLC grew its position in shares of Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after purchasing an additional 210,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after acquiring an additional 332,632 shares in the last quarter. Norges Bank bought a new stake in shares of Revvity during the 4th quarter worth approximately $129,483,000. Finally, Northern Trust Corp bought a new stake in shares of Revvity during the 4th quarter worth approximately $127,401,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on RVTY. Bank of America upped their price objective on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. JPMorgan Chase & Co. increased their target price on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partners assumed coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.00.

Revvity Stock Down 0.1 %

Shares of NYSE RVTY opened at $122.71 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The company has a market cap of $15.14 billion, a P/E ratio of 101.41, a PEG ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $128.15. The firm has a 50-day simple moving average of $118.10 and a two-hundred day simple moving average of $110.26.

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

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity’s payout ratio is 23.14%.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction on 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 directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

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.