Revvity, Inc. (NYSE:RVTY) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP lifted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 80.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,718 shares of the company’s stock after acquiring an additional 39,573 shares during the quarter. Artemis Investment Management LLP owned about 0.07% of Revvity worth $9,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in shares of Revvity during the fourth quarter worth about $25,000. Gladius Capital Management LP boosted its holdings in Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after acquiring an additional 106 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in Revvity in the 4th quarter worth approximately $27,000. CENTRAL TRUST Co acquired a new stake in Revvity in the fourth quarter valued at approximately $27,000. Finally, ORG Partners LLC purchased a new stake in shares of Revvity during the fourth quarter valued at approximately $32,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

RVTY stock opened at $104.86 on Friday. The firm has a market cap of $12.94 billion, a P/E ratio of 86.66, a P/E/G ratio of 2.72 and a beta of 1.08. The stock’s 50 day simple moving average is $107.16 and its 200 day simple moving average is $106.19. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $131.96.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The company had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period last year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities research analysts predict that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s payout ratio is currently 23.14%.

Insider Activity

In related news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the sale, the insider now owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird raised their target price on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Barclays dropped their target price on Revvity from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group assumed coverage on Revvity in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

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.