Victory Capital Management Inc. Sells 1,898 Shares of Revvity, Inc. (NYSE:RVTY)

Victory Capital Management Inc. lessened its position in shares of Revvity, Inc. (NYSE:RVTY) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,278 shares of the company’s stock after selling 1,898 shares during the period. Victory Capital Management Inc.’s holdings in Revvity were worth $6,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC bought a new position in shares of Revvity in the 2nd quarter worth about $25,000. Logan Capital Management Inc. acquired a new position in Revvity in the fourth quarter valued at approximately $37,000. Family Firm Inc. bought a new position in shares of Revvity during the 2nd quarter worth approximately $43,000. Parallel Advisors LLC bought a new position in shares of Revvity during the 4th quarter worth approximately $47,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Revvity in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the 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 completion of 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 filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Bank of America boosted their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen increased their price target on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Barclays boosted their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average target price of $126.00.

Revvity Stock Up 1.6 %

RVTY stock opened at $122.03 on Monday. The stock has a market cap of $15.06 billion, a P/E ratio of 100.85, a P/E/G ratio of 2.87 and a beta of 1.05. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $117.37 and its two-hundred day simple moving average is $110.06. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $128.15.

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

Revvity Dividend Announcement

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

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.