Handelsinvest Investeringsforvaltning Decreases Position in Revvity, Inc. (NYSE:RVTY)

Handelsinvest Investeringsforvaltning lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,158 shares of the company’s stock after selling 1,639 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Revvity were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RVTY. 2Xideas AG purchased a new stake in shares of Revvity during the 3rd quarter valued at $20,968,000. Citigroup Inc. purchased a new position in Revvity in the 3rd quarter worth $5,548,000. Wesbanco Bank Inc. purchased a new position in Revvity in the 3rd quarter worth $522,000. Headinvest LLC purchased a new position in Revvity in the 3rd quarter worth $57,000. Finally, Vanguard Group Inc. purchased a new position in Revvity in the 3rd quarter worth $1,579,487,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

NYSE:RVTY opened at $102.48 on Thursday. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $131.96. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $12.65 billion, a PE ratio of 84.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. The stock’s 50-day moving average price is $107.17 and its 200-day moving average price is $106.35.

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

Revvity Dividend Announcement

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

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction dated 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 directly owns 36,900 shares in the company, valued at approximately $4,075,974. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen raised their target price on Revvity from $123.00 to $130.00 and gave the stock 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 stock an “outperform” rating in a research note on Tuesday, April 30th. Jefferies Financial Group assumed coverage on Revvity in a research note on Monday, June 3rd. They issued a “hold” rating and a $115.00 target price for the company. Finally, Barclays reduced their target price on Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.69.

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.