Guinness Asset Management LTD Boosts Holdings in Revvity, Inc. (NYSE:RVTY)

Guinness Asset Management LTD boosted its position in shares of Revvity, Inc. (NYSE:RVTY) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,863 shares of the company’s stock after buying an additional 276 shares during the quarter. Guinness Asset Management LTD’s holdings in Revvity were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of Revvity during the second quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after acquiring an additional 167 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Revvity in the second quarter valued at about $43,000. Fairfield Financial Advisors LTD bought a new stake in shares of Revvity in the second quarter valued at about $43,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Revvity in the first quarter valued at about $48,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

NYSE RVTY traded up $1.28 during trading hours on Friday, reaching $121.51. The stock had a trading volume of 575,671 shares, compared to its average volume of 818,213. The stock has a fifty day moving average of $121.36 and a 200 day moving average of $112.40. The stock has a market cap of $14.99 billion, a P/E ratio of 100.42, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. Revvity, Inc. has a 52-week low of $79.50 and a 52-week 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.

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

Revvity Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Finally, TD Cowen lifted their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.53.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the business’s 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 transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The trade was a 0.00 % 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. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 0.00 % 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. Also, insider Joel S. Goldberg sold 3,500 shares of the company’s 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 transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is owned by company insiders.

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.