IFM Investors Pty Ltd Trims Stock Holdings in Revvity, Inc. (NYSE:RVTY)

IFM Investors Pty Ltd cut its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,984 shares of the company’s stock after selling 861 shares during the quarter. IFM Investors Pty Ltd’s holdings in Revvity were worth $2,623,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new stake in shares of Revvity in the 4th quarter worth approximately $1,112,000. State of Michigan Retirement System acquired a new stake in shares of Revvity in the 4th quarter worth about $3,688,000. Gulf International Bank UK Ltd acquired a new position in Revvity during the 4th quarter valued at about $1,136,000. State of Alaska Department of Revenue acquired a new position in Revvity during the 4th quarter valued at about $1,456,000. Finally, International Assets Investment Management LLC bought a new position in Revvity in the 4th quarter worth about $1,278,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Down 0.6 %

Shares of RVTY stock traded down $0.58 during trading on Friday, hitting $101.51. 827,386 shares of the company were exchanged, compared to its average volume of 939,494. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 2.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The business’s 50-day simple moving average is $104.66 and its 200 day simple moving average is $101.46. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $132.54.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The business had revenue of $695.90 million for the quarter. As a group, analysts forecast that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. Revvity’s dividend payout ratio is 5.09%.

Analysts Set New Price Targets

Several research firms recently commented on RVTY. Evercore ISI upgraded Revvity from an “in-line” rating to an “outperform” rating and raised their target price for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Raymond James upped their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus raised their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. Finally, Barclays upped their target price on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average target price of $118.91.

Insider Buying and Selling

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.